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Company Loan Type APR Est. Pmt.

coborrow issues

Posted on: 10th Feb, 2012 02:23 pm
I am the primary coborrower of my residence that I live in. I have kept up house payments for 4 years without issue. I am under pressure by the other coborrower (ex relationship) to assume the mortgage. Unfortunately I have a high debt to income ratio that I am in the process of correcting. What other options are there for the us to explore?
hi jeanie,

once you have the correct debt to income ratio, you can either assume the mortgage or you can refinance the loan in order to get it transferred in your name. this will make you the only owner of the mortgage.

thanks
Posted on: 10th Feb, 2012 08:33 pm
Welcome jeanie,

In order to reduce your debt to income ratio, you will either have to increase your income or pay off and reduce your debts. Once your debt to income ratio is reduced, you will be able to get a refinance.
Posted on: 12th Feb, 2012 08:04 pm
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