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cityandbeachmom
Vineyard hopping time
Member since 6/10 1821 total posts
Name:
Suffer the pain of discipline,
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Lawyer Question
Thank you
Message edited 5/31/2013 12:21:38 PM.
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Posted 5/2/13 7:14 PM  |
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Kitten1929
LIF Adult
Member since 1/13 6040 total posts
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Lawyer Question about refinancing with a consigner.
My concern would be how to prove someone didn't pay. I would imagine that they can be taken off when refinancing if their credit is no longer needed.
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| Posted 5/2/13 8:27 PM |
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Re: Lawyer Question about refinancing with a consigner.
Are they agreeing to be taken off the deed? The deed is their interest in the property so they are the person who has to transfer it. Talk to a real estate attorney but I would think that the co-signer would have to sign off on a quit-claim deed. The bank on the first loan could have a huge issue if that is done before the re-fi. I think they can even call the loan due.
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| Posted 5/3/13 12:31 AM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Lawyer Question about refinancing with a consigner.
You need to speak with a real estate attorney to draw up the correct documentation so that it can be properly filed with the town. The co-signor would have to give up their right to the property. Paying for the mortgage and being on the deed are two different issues. Do they want to relinquish their rights to the property?
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| Posted 5/3/13 8:24 AM |
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