Remove adult child from mortgage and title

0.10 Dollars($)

In 2001 I bought a home with my name, my husband's, and my adult daughter's on both the mortgage and the title. My husband and I are the ones paying the mortgage for most of these 7 years, and can afford to continue to do so. Now my daughter may want to buy her own house in another state and fears that having her name on this loan will affect her ability to buy her own house. Short of refinancing, is there any other way to remove her? Will the lender allow us to remove her name if we can prove that she has not been the main payer of the mortgage? Is her name on title irrelevant to this question? Thanks for your help.

brian1 · Posted: Fri Aug 29, 2008 8:39 pm Post subject:

No the lender will have to be paid off to remove her and this will mean selling or refinancing.

Good Luck

Guest 0.10 Dollars($)

can i add my adult children's names to the mortgage/deed making them part owners of the house and how long does this process take?

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.03 Dollars($)

You would have to refinance but you have timing in your favor. A 30 year fixed rate has dropped to the mid 5's currently and it is likely that you may be able to reduce your interest rate by doing so at this time. Even if you have a lower rate, at least you would not be increasing it by that much.

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