Legal Question in Real Estate Law in Maryland

Having name removed from a mortgage

Is there a way to have a person's name removed from a mortgage when one of the co-owners, has on numerous occasions, become delinquent in making the mortgage payments on time ? This lateness has caused credit problems for the non-resident co-owner and this person would like to have their name taken from the mortgage. Is there a way to accomplish this other than by re-financing, which seems to be unavailable to these people ?

Also, could the new wife of this individual be added to the mortgage in place of the non-resident owner ?


Asked on 6/05/01, 12:54 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Having name removed from a mortgage

Generally, a lender will not release a co-borrower without a compelling reason (a substantial curtailment of the debt, for example, might do it). Even adding someone with better credit is unlikely to get an institutional lender to agree to a release.

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Answered on 6/27/01, 1:23 pm


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