Legal Question in Real Estate Law in New York

Re: Removing Co-Signer from Martgage.

The bank would have to approve the removal of your ex from the loan. The bank would likely require a refinance. If she is also on the deed, you should have her taken off of the deed also by doing a closing. Should you need assistance, please contact me.

Re: Removing Co-Signer from Martgage.

Ms. Urban's response is too simplistic.

To transfer a house the deed must be signed by both you and your ex-girlfriend. This certainly is a problem if you can't find her.

If you do find her and she does not sign the deed, you will have no alternative but to start a partition action to "divide" or buy her out from the house.

Mike.

Re: Removing Co-Signer from Martgage.

First question - who is named in the Deed? You or both of you? This is critical to my response. If you are on the Deed alone, a simple refinance should clear the problem, as the current mortgage company will not usually let a secondary borrower who signed the note and mortgage off the hook. You have a greater problem if she is named in the Deed. You will then have to start a suit to clear title to get her name off the Deed and contribute to the mortgage payments she benefited from since she left the house.