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Need to refinance and get someone off note. Remove trailer

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victorbidwell Joined: 03 May 2011 Posts: 3 1.74 Dollars($)	Posted: Tue May 03, 2011 10:36 am    Post subject: Need to refinance and get someone off note. Remove trailer Like 0 Dislike 0 complicated? I need to get someone off my mortgage. I have married 3 years ago and have been trying to get my x fiance off the note for quite some time now. I have great credit but can't find anyone to refinance the note. I have also wanted to take advantage of the new lower rates. My wife and I have just found out that we are expecting. And since the trailer is old and junkly Im in need of a new home for my child. I would like to remove the trailer sell it or move it to another spot on the property AND get my x off note. I was told that since the market crash and that the mobile home is included in the land it would be impossible. Again I have great credit and still having a major issue?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue May 03, 2011 10:54 am    Post subject: Like 0 Dislike 0 So you own the land and the trailer? If you make enough money and have decent credit, you should look to purchase a home. Mobile homes are harder to finance and have higher costs. You can have family gift you the money for down payment and you can also have co-signers. Once you have some equity or the market turns, sell your mobile home to take off ex. Selling or refi, is the only way to get her off loan. She can be taken off title, but not loan until paid off. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue May 03, 2011 9:30 pm    Post subject: Like 0 Dislike 0 Hi victorbidwell, Apart from good credit, equity in the property is also an important issue when you apply for refinance. You need to find out whether or not you have equity in your property. Unless you have equity in your property, you won't be able to refinance the mortgage. None of the lenders will be ready to give you a mortgage refinance in such a situation. Thanks

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