Profile picture for brian.aldrich

Can you refinance and take someone off mortgage at the same time?

I have a friend looking to refinance an existing FHA mortgage and at the same time remove someone from the current mortgage/title. Can this be done? How? Would it still be eligible for a streamline refi?  Any help appreciated. Thanks.
  • April 01 2013 - West Sacramento
  • 0Yes

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Answers (5)

Best Answer

Yes, a borrower can be removed from an FHA loan. If your friend is doing an FHA Streamline, the borrower remaining on the loan must prove (via cancelled checks and/or bank statements), that they alone have been making the payment for the last 12 months out of their own non-joint account.
  • April 02 2013
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Profile picture for Academy Mortgage AZ
Yes it possible. The person remaining on the loan will have to be able to qualify by themselves.
  • April 03 2013
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Profile picture for Brian GFL Capital
yes, like others below have said as long as the individual qualifies on their own. if you or your friend would like more information, Im located in downtown Sacramento and would be happy to answer anymore questions
  • April 01 2013
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Yes, as long as you qualify to refi on your own.
  • April 01 2013
  • 0Yes

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Profile picture for Darin_Michl
Yes, The person applying for the new refinance could qualify on there own and remove any past people.  Not sure on the streamline option . If the new person is able to qualify by themselves it should be an option.   As far as title documents the past person would have to be willing to be removed and sign a document to transfer to the other owner.
  • April 01 2013
  • 0Yes

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