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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53985
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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How do I remove someone off my home loan?

Customer Question

How do I remove someone off my home loan?
Submitted: 27 days ago.
Category: Real Estate Law
Expert:  Richard replied 27 days ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 27 days ago.

Since this is actually a contract with your lender, in order to have someone removed from the loan, you will need the lender to agree to sign a release of this person. If you simply agree to release the other borrower, it's simply a contract between the two of you and the other person could look to you if called upon by the bank to pay, but the bank would not be bound by the agreement. The other alternative, if the bank will not consent to release this other person, would be to refinance the existing loan into your name only.

This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you that lender consent is not required, but, I can only provide you information based on the law so that you can act on the best available information to you. ………..I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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