Legal Question in Real Estate Law in Georgia

Re: loan assumption

Refinance.

Re: loan assumption

The only way you can get them off your loan is to pay the loan off. One way to do this is to refinance the loan.

Re: loan assumption

You can contact your lender to determine whether they will release your partner from the obligation; however, they are likely to suggest that you refinance, or at least pay fees related to the research that they will want to conduct to determine whether your financial situation will meet their requirements for you to be the sole obligor. If you do this, make sure that your partner releases their half interest to you, if you are both on the deed.

Re: loan assumption

I concur with Ms Ragole.