Is there a way to remove myself from a mortgage loan?

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my name is listed as second buyer on a mortgage loan and someone else as first. i want to get my name off of the loan though. is there a way to do it without having to refinance first?

  1. Reply
    May 1, 2011 at 2:32 am

    You must file a quit claim deed and the other person has to sign it. This releases you from the deed. Also, the other person can refinance and not inlucde you on the new note.

  2. Reply
    Jonathan G
    May 1, 2011 at 3:13 am

    Most lenders will NOT remove someone from the loan without a complete refinance. Sorry!

    But you can always try to call your lender/servicer (probably NOT the same person that made the loan unless you went to a credit union or a bank) and ask them for yourself. But when I turned 18 I couldn’t even remove my mom’s name from my checking account; I had to open up a brand new account!

    When the bank made the loan they ran the numbers with both you and the other person. There is no clause for removing someone from the loan. You probably have to refinance… but check with your lender.

  3. Reply
    May 1, 2011 at 3:36 am

    Sorry but when you sign a contract or a loan it is your obligation to pay. The only way I could think of out of this is if the other person on the loan goes with you and agrees to take on the total obligation. That would then be up to the person holding the mortgage if they will make out a new loan with only the first person on the note. It would be worth asking.

  4. Reply
    May 1, 2011 at 3:47 am

    Nope, yer tied in, maybe you learned a lesson about co-signing…

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