Legal Question in Real Estate Law in Illinois

Other that refinancing a mortgage, how does one remove persons on a mortgage?

Asked on 5/21/13, 7:02 pm

2 Answers from Attorneys

David Labovitz Labovitz Law Firm, P.A.
0 users found helpful
0 attorneys agreed

Hello and thank you for asking your question. Unfortunately, since the mortgage is a contract, there is no way to get out of the contract without refinancing. The parties can contact the lender and ask that the one party be released. But it would be very rare for a lender to grant that request.

Read more
5/22/13, 5:09 am
0 users found helpful
0 attorneys agreed

I agree w/ Mr. Labovitz. About the only time I've seen somebody "removed" is where the borrowers were husband and wife, one passed away and the lender was willing to sign a modification agreement removing the deceased spouse from the mortgage.

Read more
5/24/13, 12:48 pm

Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois

Looking for something else?

Get Free Legal Advice

88263 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now