one party joint tenancy refinance

[John Se]

What is the name of your state (only U.S. law)? AZ

Can One party of a Joint Tenancy do a refinance? If the other party is hostile. I know that on paper the other party will then become "not responsible" for the Mortgage.

 

[LdiJ]

What is the name of your state (only U.S. law)? AZ

Can One party of a Joint Tenancy do a refinance? If the other party is hostile. I know that on paper the other party will then become "not responsible" for the Mortgage.

Probably not. I am virtually certain that you would need the cooperation of the other party.

 

[justalayman]

A lender is going to require all parties in title to sign a declaration granting the lender a superior lien over the title holders. If the other party did not become encumbered by the loan and as such become junior in their claim or grant the lender a superior position independently of the loan agreement then if foreclosed upon the lender could not acquire the other parties interest. It makes everything real messy.

 

[FlyingRon]

I have found that most banks (if not all) I've come across will not finance a house unless all the owners join in the loan. Even if the one who isn't applying for the loan was voluntarily to allow the security instrument to be put into place, the banks won't have it.