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Old 11-16-2010, 06:34 AM
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Default Is there a way to remove someone from a Mortgage loan?

I made the biggest mistake of my life, by getting a house with another person who thought he was responsible. He was on top all the time, but now things went down hill. I want to keep my house since I put so much into it, and willing to sacrifice myself, only if I could get him out of the loan, and out of the house. If anybody in the mortgage loan industry could advice...I will truly appreciate. Based on the situation, I don't have money to spend on a lawyer for legal advice. Also, he is the primary holder for the loan. The only thing he wants is to live for free until the house is taken away, but I don't want my house taken away. I am willing to do what I can to keep it. A million thanks for any information I could obtain.
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Old 11-16-2010, 07:14 AM
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are they willing to sign off? or can you buy them out? you have to have a new morgage written up intrest rates are great right now...
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Old 11-16-2010, 09:36 AM
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What you can do is put on a loan application for the mortgage and then pay off the other mortgage with the current one. As long as the other person is willing to cooperate somewhat with the process. He doesn't have to do much just if the institution that the house is currently financed through has any questions he needs to comply. Good luck!
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