How Do You Remove A Name From A Joint Mortgage?
Homes are expensive, and most home buyers apply for a mortgage with a co-debtor. This can be a spouse or family member. While having two people apply for a mortgage loan improves the approval odds, situations can arise in which one person wants her name removed from a joint mortgage. Unfortunately, removing a name from a joint mortgage is easier said than done. However, there are ways to get around this problem. Step 1 Maintain a high FICO score and steady employment. To remove a name from a joint mortgage, the person who remains on the mortgage loan must be in a position to pay the monthly payment on his own. He’ll need a decent credit score, reliable employment and sufficient income. Step 2 Refinance the mortgage loan. Unfortunately, removing a name from a mortgage loan isn’t as simple as calling the mortgage company and making a request. To achieve this, you’ll have to refinance the home loan. The person who chooses to remain on the mortgage needs to contact a lender and complete a
