Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » Has anyone been taken off a mortgage note without refinancing or selling the house?

Has anyone been taken off a mortgage note without refinancing or selling the house?

RELATED POSTS:

  1. I am refinancing my mortgage, can I start to sell the house now? I am refinancing a ballon to a fixed rate mortgage and in the agreement it says that I have to...

  2. how to go about refinancing a mortgage that is already more than the house is worth? ...

  3. We would like to buy the vacant lot next to our house while refinancing our current mortgage.? We would like this to all be in one loan. Does anyone have experience doing this and do you usually...

  4. Does Refinancing the house or filing bankruptcy make your mortgage payment go up? My dad just recently seen a 20,000 increase to the house mortgage ...

  5. can i refinance a 10 year home equity line of credit without refinancing my existing mortgage? running downhill on my mortgage and don’t want to start over ...

Written by

Filed under: Mortgage Refinancing · Tags: , , , , , , , ,

4 Responses to "Has anyone been taken off a mortgage note without refinancing or selling the house?"

  1. Bronwyn says:
    One can only do that by filing a Quitclaim deed.
  2. realestatelawyer says:
    Sorry, Bronwyn, but that’s not true. Filing a quit claim deed does not remove a person from a mortgage note. All it does is transfer away their ownership interest in the property. They are still responsible for paying the loan.

    To h8mongrel, the only ways to get off a mortgage note are to pay off the loan by either refinancing or selling, or if the lender releases you (such as by allowing you to assign the loan to a new owner). Lenders are unlikely to release someone from a loan but you can always try calling them and asking.

  3. Chihuahua Mom says:
    Realestatelady is correct.

    Unless your loan is assumable typically a lender is not motivated to remove you from the note. In most instances the lender will require the new party to obtain their own financing.

  4. Blue Financial Group says:
    The only way you can come off a mortgage note is if you pay off or refinance the loan. A quitclaim deed takes you off of title, not the mortgage. You can die and still be on the mortgage note.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player