” As far as lenders are concerned, co-signers on a mortgage add financial security, since it means there are two people responsible for paying off any debts. For this reason, it can be difficult to remove a co-signer. But there are options.”
” Because your request to be removed as a co-signer on a mortgage will need to be approved by the lender, there is no set procedure for getting out of the arrangement. That said, there are a few approaches you can take. Here are some tips on getting a co-signer off a mortgage:”
1. Consolidate the debt.
2. Refinance their loan.
3. Sell the financed asset.
4. Find another co-signer
To read How to remove yourself as a co-signer on a mortgage 6 steps follow the link to the article HERE published on the Canadian Mortgage Professionals website written by Jonathan Russell
”You’re almost at the finish line… you’ve organized an open house and had numerous showings, and now, your real estate broker has finally presented you with a promise to purchase! However, you may not be completely satisfied with the offer. What should you do? You have three choices: you can make some compromises and accept
”How to calculate your debt-to-income ratio Many prospective homeowners or parents who want to help their child buy their first home are likely asking how they can do that themselves. It’s a crucial indicator for analyzing your financial health, as banks and financial institutions consider it before agreeing to a loan. Let’s dive in!” What
”So, you found the perfect condo in the perfect neighbourhood! Congratulations! However, did you know that divided and undivided co-ownerships are not the same thing? Learn more about the differences!” The difference between divided and undivided co-ownership Divided co-ownership is the most well-known type of condo. What you are buying is a private portion (your condo
