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[jenjen236]

What is the name of your state? Colorado
I am a co borrower on my mom's house. I lived with her when she bought the house I have moved out and need to take my name off the house. I was told the only way to do that is if she refinances the house or sells it. She will not do either one so I need some advice on the steps I can take to get my name off the house. Pleas Help me.

[Monaco_O2]

Refinancing or selling the property is not the only way to have you removed from title. You have another option available to you...quit claim deed.

A quit claim deed is a legal document by which a person releases or "quits" any claim that they may have had to property. Of the different types of deeds, the quit-claim has the least assurance that the person receiving it will actually get any rights. The person who provides a quit-claim deed makes no warranty or representation that they actually own anything. The quit-claim merely provides that whatever they had or may have had, they are conveying it. Other types of deeds are judicial deeds, warranty deeds, deeds of trust, will deeds, and sheriff's deeds.

Typically one would have to go to their county's clerk and recorder's office and record the deed. There will be a small charge for recording the quitclaim deed. But before you do anything, make sure you have your mother's consent or is in accordance.

Jen, let me know if I can be of any further assistance and hope this helps!

[Bigfoot]

The lender has to approve you being removed from the mortgage because the loan was made assuming that both incomes would be used to make payments. Removing yours may mean that your mother (co-borrower) cannot handle the payments alone. In your case, your mother is holding you hostage by refusing to do so.

Refinancing is the only way, and only if she will qualify as the sole borrower. Otherwise if you refuse to make any more payments and it goes into foreclosure, both of you lose with regards to your credit.

Does your mom just not want to live in the house alone? You and your mom have to work this out.

[nextwife]

Originally Posted by Monaco_O2

Refinancing or selling the property is not the only way to have you removed from title. You have another option available to you...quit claim deed.

No, do NOT quit claim a property while you remain on the mortgage! That is a BAD "option" as your liability under the mortgage continues after you no longer own the property. All a quit claim does is get rid of your interest, but not your responsility to the mortgage lender!

[tigger22472]

Sounds like the only option if she won't sell or refinance is to have a judge order her to do one or the other.