Want to be taken off mortgage note

[Kingsley]

15 years ago I co-signed with a live-in partner a mortgage note for a condo in CT. We subsequently parted 10 years ago; I, under the impression that my signature was only on the deed, not the note. 2 years ago, while being pre-qualified for a mortgage the loan appeared on my credit check. The note has been sold twice; when I contacted the 1st Finance company they were very uncooperative toward my plight, which is to remove my name from the note.

I have not had contact with my ex-partner for the past 10 years-I believe he works overseas for a company in the U.S. Records show he has made every payment to the loan company (on time). I have never written a check to the holder(s) of the note, nor claimed deductions on my Federal taxes.

After my first experience, I am reluctant to hire a lawyer without any guarantee that the loan company will consent to removing my name. (I would assume the loan company will want to refinance-expenses I don't want to incur). In your opinion, will it be difficult to get off the note and if so could I find a Mortgage firm that will accept this risk if I show them Bank and tax statement proving I haven't been involved monetarily and that, in the event of death or default of payments, I could carry both mortgages until the property was sold. (Credit excellent, no debt, additional liquid funds totaling 1/2 the balance due).

 

[Tracey]

Getting the bank to let you off the mortgage will be a stone b*tch. If your ex won't refinance, the bank won't let you out from under.

Your plan sounds pretty good. Don't know if it'll work, but it's worth a try.

Are you still on the deed? If you are, you can sue for a partition by sale. This will force your ex to buy you out and refinance.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.