Legal Question in Real Estate Law in Georgia

My husband has a mortgage cosigned by both his parents. It is an assumable loan. Is there an easy way for him to remove himself from the loan so that his parents can take it over completely? We are trying to purchase our first home together and need to be free of this mortgage ASAP. His parents have agreed to take over the first mortgage that they are cosigners on.


Asked on 3/17/10, 6:53 pm

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

I'd have to read the loan papers to answer. There have been almost no assumable loans out there for many years, so yours would be unusual and probably has nonstandard language. Step one for you is hire a lawyer.

Read more
Answered on 3/22/10, 7:54 pm
Charles W. Field Charles W. Field, Attorney at Law

It's a bit complicated, but you are going to have to get the mortgage company to refinance, taking his name off the loan.

Read more
Answered on 3/23/10, 6:32 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia