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Removing a cosigner or co-borrower from a mortgage almost always requires paying off the loan in full or refinancing by getting a new loan in your own name. Under rare circumstances, though, the lender may allow you to take over an existing mortgage from your other signer.
Removing a cosigner or co-borrower from a mortgage almost always requires paying off the loan in full or refinancing by getting a new loan in your own name. Under rare circumstances, though, the lender may allow you to take over an existing mortgage from your other signer.
Refinancing may be the simplest way to remove a co-borrower from a loan. The refinance process means applying for a new loan to replace an existing one. Borrowers often refinance to get a lower interest rate or extended repayment length. But refinancing can also help borrowers add or remove co-borrowers to a loan.
Removing a name from your mortgage: Can it be done without refinancing? Yes, it is possible to take sole responsibility for a home that you're currently sharing without refinancing, even if your ex-spouse or another co-borrower or cosigner is currently on the mortgage.
Kentucky Housing Corporation (KHC) invests in affordable housing solutions by offering programs and services designed to develop, preserve, and sustain affordable housing throughout the state.
For parents who want to file for child custody but who cannot afford a lawyer, filing pro se is a viable alternative.... File a Petition for Custody Proof of paternity or legal parentage7. Child's birth certificate. Any existing orders related to the child.
Contact your lender and request a novation Ask your lender for a novation to erase the name of your co-applicant from your home loan. A novation is a declaration that shifts the responsibility of repayment of the home loan from two borrowers to one.