When can a co signer remove his name from a loan?

dlknopic · Joined: 28 Jul 2008 Posts: 1 1.00 Dollars($)

My dad cosigned for a loan for their granddaughter's boyfriend. He is not paying on time and they are getting calls from the loan company. Can my dad remove his name from the loan when their granddaughter's boyfriend turns 21?

sweeney · Posted: Mon Jul 28, 2008 5:43 pm Post subject:

Hi there- No, they'll have to refinance to remove his name.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi dlknopic.

Welcome to the forum.

To remove your dad's name from the mortgage the granddaughter's boyfriend will have refinance the loan on his name only. So will he ready to refinance when he will be of 21 years of age?

Best of luck,
Larry

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