Question by Luisa: is there any other way to get his name off the mortgage by sides refinancing?
My husband co-signed on his sister’s mortgage. is there any other way to get his name off other than refinancing ? Of course she is missing payments
Answer by src50
No. By cosigning, he guaranteed the loan if she defaults.
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Of course not. The reason his sister needed a co-signer was that her own credit was insufficient to qualify on her own. Your husband decided to guarantee her payments if she defaulted. They’re not going to let him off the hook. They expect HIM to pay up.
Another sad lesson learned about the pitfalls of co-signing.
Sorry bout that. He will be responsible should she fail to remit payment.
You could have her quit claim the property over to your husband and then it would just be your issue to deal with. Since his name is on there you might as well be in charge of the situation.
No, when you co-sign, you agree to take responsibility and the borrowers qualify together. She will have to qualify for a mortgage on her own in order to have the loan only in her name.