How difficult is it to get a loan assumed through the assumption department?

Asked 6 months ago - Irvine, CA

I want to remove my co-borrower of loan. He filed BK in 2010 and I just filed for BK last year. I want to remove him of the loan and he is not on Title of home.

Attorney answers (1)

  1. Stephen Ross Cohen

    Contributor Level 20

    Answered . It should be very tough, both of you have bad credit and I would assume the mortgage company wants as many people on title as possible, if you had a co-borrower or guarantor with strong credit, I would thing the bank would jump for joy. But if the co-borrower is also a co-owner you may be stuck.

    My name is Stephen R. Cohen and have practiced since 1974. I practice in Los Angeles and Orange County, CA.... more

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