I am co-owner of a home & its in 4closure again. i need to get my name off but cant do a note of assumption!?!

Question

i havent lived in the house in 4 yrs. the other owner still lives there but is not payin the mortgage on time. i have filed for a note of assumption but he has to qualify for takin over the loan. and he failed to make payments for 6 months. caught back up for a couple months and is now 2 months behind.. help!

Answer 1

Until that note is paid in full or your co-owner assumes the loan you're still on the hook, sorry.  As an underwriter, I would not approve the assumption due to payment history.  Again, sorry.  This is also showing up on your credit report, sorry.  Can you talk your "partner" into selling?

Good luck.