Question by boo boo: i bought a house with my daughter and she wants to refinance to get my name off what should I do?
I pay the mortgage and i live in the property can she refinance without my knowlege?
Best answer:
Answer by the kid
No, she can’t. She can’t do anything without your consent.
What do you think? Answer below!
If your name is on the title to the house, she cannot take out a new mortgage on the house without your consent because the bank will require you to sign any new debt that is secured by the house.
If you are merely a co-signer on the current mortgage, and you are NOT listed as a co-owner on the title, then she can take a new mortgage on the house and pay off the existing mortgage without your permission.
You need to seek professional advice on this matter. That you and your daughter are both on the mortgage loan means NOTHING relative to who owns the property. If you have made all the mortgage payments involved, you might lose heavily if you do not handle this situation properly and legally. Do not waste time. Hire a professional to guide you through this.
She can try to refinance. but you would have to sign.
Taking you off the mortgage and putting the mortgage in her name does not change the deed. You would still own the house and you would still be in legal possession.