Must we all qualify for the refinance?
I am on a mortgage with another individual, we purchased a home 2 years ago. His credit is fine but mine is not as good. I am trying to get out of the mortgage, so is the rate he receives based on my credit at all? or is he the only party that must qualify since he will be the only one remaining on the note. by jmanard8839 from San Diego, California. Nov 23rd 2010
John A Soricelli Jr (John A Soricelli Jr)
#167 ranked lender in California - 151 contributions
It sounds like the best solution for you will be to have the other person qualify solely for the new mortgage. The interest rates, cost, terms, etc will be based solely off their merits and your credit will not be a factor. You will still be able to retain your rights to the property by staying on the title. Please feel free to visit my website for additional information: www.ThinkJohnAJr.com. I would also encourage us speaking about the details of your needs to determine exactly what you/ the other individual will qualify for.
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