How do I get my name off a mortgage without refinancing. ?
- The only ways are to refinance in just their names, or to pay off the loan
- Unfortunately the banker is correct on this one. A loan is a contract between parties that once signed no party can change legally. I am not sure about the fees or anything, you can check with another mortgage company to see what their rates and things are. You may want to see if your parents current loan as a prepayment penalty on it. If not then a loan through another lender for them would work. In any case there is going to be the documentation fees for redoing the loan. Sorry for the not good news
- You'd have to die. Otherwise you have no options
- Unfortunately looks like you only have one choice and that is to refinance. Looks like this is a common problem during divorces
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Knowledge Base: Mortgage
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Knowledge Base: Mortgage Refinancing
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