Posted on: 17th Jul, 2013 12:33 am
I am in the process of divorce. The property has been awarded to me. We both are on the mortgage and I have been asked to refinance it to remove my husband from the property or sell it off and split the proceeds. Well, I cannot refinance it without a co-signer. If I add a cosigner, will it be considered as a refinance or will it be considered as selling?
Adding a co-signer to the property and the mortgage does not mean you are selling off the property. It will be considered as refinancing.
Well, adding a cosigner does not mean that you're selling the property. It is as simple as refinancing in this case.