Legal Question in Real Estate Law in Illinois

How do I take my cosigner off my mortgage

Five years ago I purchased a home. I had to have my mother on the mortgage because I did not have enough income and my husband was unemployed at the time. Since then, I earn more and my husband has been employed full time for the past year years. How do I remove my mother from the mortgage and add my husband


Asked on 4/02/08, 2:36 pm

3 Answers from Attorneys
Peter Olson The Olson Law Firm, LLC

Re: How do I take my cosigner off my mortgage

Two thoughts...

First, simply refinance with you and your husband taking out a mortgage together. That's the obvious thing although the market's sort of tight right now.

Second, if your mortgage is paid down significantly sometimes lenders will take someone off the mortgage just by asking. That's unlikely if you still owe a lot.

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Answered on 4/02/08, 3:35 pm
George Zuganelis Zuganelis & Zuganelis, Attorneys at Law, P.C.

Re: How do I take my cosigner off my mortgage

Is your mother also named on the deed?If she is, then you have to do quite a bit to take her off the mortgage. You also must get her off the deed. However, I can help you with an attorney generated mortgage. To learn more please go to www.homeloanlawyers.com

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Answered on 4/02/08, 4:07 pm
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: How do I take my cosigner off my mortgage

Refinance

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Answered on 4/07/08, 8:28 am


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