Has anyone been taken off a mortgage note without refinancing or selling the house?
351524
Sorry, Bronwyn, but that's not true.  Filing a quit claim deed does not remove a person from a mortgage note.  All it does is transfer away their ownership interest in the property.  They are still responsible for paying the loan.\n\nTo h8mongrel, the only ways to get off a mortgage note are to pay off the loan by either refinancing or selling, or if the lender releases you (such as by allowing you to assign the loan to a new owner).  Lenders are unlikely to release someone from a loan but you can always try calling them and asking.
1072256
The answer is yes you can BUT the reality is that it is hard to find a lender that will refinance your loan knowing that at any minute your home could be sold and they will waiste their time and money. Most lenders will ask you to take the home off the market before you can refinance.\n\nGood luck!
164313
Definitely! I payed my house off in 8 years by just paying a little over my monthly payment each month. All went to the principle. So before I knew it. VOILA......the house was payed for. It was the most amazing feeling knowing there was no debt!! Yes, pay off your home. You feel free! :)
358064
the best way to transfer your mortgage to a familly member who has been living with you for at least 2 years ( it can be rent free) is to refinance the house and make that person the note bearer. The person has to at least be a brother, sister, child or spouse. A prepayment penalty might be assessed but it is usually minimal compared to losing the house)\n\nstep one : quit claim that person on the deed \n\nstep 2 get them qulified for a loan with a lender that will allow this type of transaction. If your broker has no clue i could sugest a few lenders to you that would.whole sale lenders most likely will do this thats why i sugest a mortgage broker and not your local bank.\n\nif you do not have a prepayment penalty this would only cost you about $11 for the quit claim deed about $365- $600 for the appraisal depending on your state and the cost of home owners insurance in their name ( this will have to be paid for a year up front  for the insurance binder. the cost of the appraisal and insurance could come from the euquity in the subject property and not out of pocket.\n\nmake sure you quit claim off the deed too
600493
Okay, here is the deal--\n\nIf they had a mortgage and they have decent credit and equity in the house, they could get a 2nd mortgage/equity line of credit.  That line of credit is considered a 2nd mortgage and it is recorded on the deed just like the first mortgage was.  They can indeed lose their house, either lender can decide to forclose on the house for missed payments.  Usually what happens is the first mortgage holder buys out the 2nd and then forcloses on the house.  \n\nIf they got a 2nd mortgage, they probably got a checkbook, so they could have written a check and gotten cash to give to Scott, but it was still a 2nd mortgage.  Payments will be due just like the first mortgage, every month.\n\nIf they aren't getting enough to pay both, they should immediately contact the first lender and see if they can refinance with both their mortgage and the equity line of credit.  This might be difficult because they have used all their equity in their house, so they are reborrowing for full value of the house and the bank might not go for it.  \n\nIt would be terrible for these people to lose their home because they tried to help somebody out.  I hope they can all find a solution.\n\nThey might also contact www.naca.com  \n\nIt's a non-profit housing advocacy group and they do some refinancing.  They are very much about people keeping their homes, so they might be able to help you where a bank might be less helpful.  \n\nGood luck!
524762
you have to prove it was a fake signature and get the picture of the person that did sign for you at the closing- get all the parties involved. the title company the realtors,the co-owner.  Have fun proving you didn't sign the documents though.  you are right a lawyer needs to be notified but the cost to bring this to court and put the guys in jail is expensive too...enough that you may not want to persue it.  Try finding the person that signed chances are they've gotten out of town too.  On a good day you'll find every body and catch them before they leave town but they've got to think your not going to do anything.  hence, even if you do they might not care and it could be dangerous to boot.  I hope your guys are amateurs.  I don't have any direct info for you but I have a friend that went thru similar home fraud case and the FBI and state's atty. were interested in her case-maybe they can refer a good atty. Mortgage lending fraudulent transactions are federal offenses.  If you get 25 yrs for credit cards I hope it's more for lying on a loan document.
376428
If you refinance the loan, you can do so without them being on it. However, you must have good enough credit to be able to get the loan without a cosignor.
781878
There are three major instruments of concern here. \n\nThe instrument of title, which is the deed, \nThe instrument of debt, which is the Promissory Note\nand\nThe instrument of security, the Mortgage, tying the Note to the Deed. \n\nNow, if you're only on the Deed, there's not a lot to executing a QuitClaim Deed to your son. \n\nIf you are also on a Mortgage, that by itself doesn't really doesn't matter much, as the mortgage alone does not make it your personal obligation, so the Deed takes care of that as far as you are concerned.  You should list in the QCD "subject to the existing mortgage to X filed in book Y at page Z", although it's not strictly speaking necessary. \n\nHowever... if you signed the Promissory Note, signing a QuitClaim Deed will still leave you personally liable if the debt is not paid.  It is possible that they would release you from the Note, if the Loan to Value ratio is low enough, but there's no real reason they should.  \n\nIf they're not going to do that, you'd be unwise to give away your right to the secured property. \n\nThe way to get your name cleared from the debt is if your son re-finances, and then you'd be safe signing a QCD at the same time.
320218
With just a notice, you can still sell as it is still your home.  You will have to get at least the outstanding balance on the sale to cover the bank note + penalties you have accrued.  Many people choose to sell when in foreclosure as they can walk away with a little cash and sometimes allot of cash depending on the market.  There are also ways to get bailed out of the foreclosure if you want to keep the home.
318415
What they are doing is completely legal.  Who issued you a deed in 2002?  That is the person you must go to now to get the check endorsed.  Once this is done and the house repaired, I recommend that you either ask the lender to let you assume the current mortgage (not likely to happen) or refinance the mortgage in your own name.\n\nAnother option would be to retain an attorney and let them fix this for you.  The legal fee shouldn't be too high and it would be worth it to get things cleaned up and in your name.
354686
The owner needs to go to the register of deeds and request the new name be added in addition to theirs, you should not have to refinance at all. We live in Wisconsin, and just did it without refinancing at all.
256090
No.  The company that holds your mortgage should have supplied you with a statement of how much mortgage interest you paid over the previous year.  You can only claim that amount.
863186
It depends on the lender. Some have seasoning requirements. Some have 6 months, some have 12 months. There are also lenders that don't require seasoning, but they are usually non-conforming and depending on  your credit, 2 years previous rental or mortgage history, along with the 4 months mortgage history that you have with you're new mortgage, their rates might not be any better then the rate you have now. Call a few mortgage brokers and ask them if they have any lenders that will do a rate/term refinance with no seasoning requirements. Also, make sure that you don't have a pre-pay penalty with your cuurent mortgage. Sone lenders charge a huge pre-payment penalty.\n\nGood Luck!
1020640
I am a mortgage banker and filling out a non-filed 1040 will get you into deep trouble in the area of fraud.  At closing you sign a form which is called a 4506 that gives the mortgage holder authorization to pull for filed taxes.  So that being said, file the back taxes and keep your copy.  I do several VA mortgage loans and have found that being up front with your banker will get you an approval a lot quicker.  Your problem is not unusual
456101
Often that means that they have to change their title deed to reflect the new mortgage company.  These records are often public records that you can request at your county recorder. They might even have an online system.  Our county does... personally I find it kind of scary what people could find out this way.
336291
Going through old files.  Interest rates were much higher a few years ago and a lot of the people with 10% interest rates may be interested in refinancing considering they wouldn't have to add that many more years to their mortgage.  Assuming you're in the mortgage business, that is.\nAnd I know that it's difficult, but cold calling works as well.  Sending out inexpensive flyers works, too.
377816
Try visiting your state's website for governing the real estate entity.  They should have a number to call for grievances.  If you are in California, visit www.dre.ca.gov.  That is definitely illegal and you may have a small window for statute of limitations on this so act quickly.  If you call the lender first, before seeking guidance, they may "call the note" which means that you will have to refinance or pay the loan in full at that point in time.