Normally, a refinance would be necessary.
He can ask the lender if they will modify the loan and take her off, but, normally the lender does not permit. If he still lives in the house it will be treated as an owner occupied refinance. If he no longer lives in the house, it will be treated as an investor refinance and then less favorable interest rates and higher down payments (lower loan to value)
He can ask the lender if they will modify the loan and take her off, but, normally the lender does not permit. If he still lives in the house it will be treated as an owner occupied refinance. If he no longer lives in the house, it will be treated as an investor refinance and then less favorable interest rates and higher down payments (lower loan to value)
Hi curious!
Welcome to forums!
Your husband will need to refinance the property. This will help in transferring the mortgage in his name. He can even try assuming the loan provided if the lender agrees to it.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Your husband will need to refinance the property. This will help in transferring the mortgage in his name. He can even try assuming the loan provided if the lender agrees to it.
Feel free to ask if you have further queries.
Sussane
