Can a borrower who is not on the mortgage being refinanced be added to the Relief Refinance Mortgage?
With the Relief Refinance Mortgage – Open Access a borrower who is not on the mortgage being refinanced may be added provided that at least one of the existing borrower(s) is retained. The addition of a borrower to the Relief Refinance Mortgage – Open Access is available for all occupancy types; however, a non-occupying borrower may not be added to a mortgage secured by a primary residence. Note that a borrower cannot be added to the Relief Refinace Mortgage – Same Servicer.
Related Questions
- Is a mortgage eligible for the Relief Refinance Mortgage offering if the borrowers previous application for a refinance was cancelled or denied because the LTV ratio was too high?
- If the mortgage being refinanced is a government loan will Loan Prospector let me know that it is ineligible for the Relief Refinance Mortgage – Open Access?
- Does a property have to decline in value for a borrower to be eligible for the Relief Refinance Mortgage?
