refinancing home loan rates
Thursday, August 12th, 2010Refinancing home loan?
A friend and I have purchased a house about a year ago. We went in 50/50. We were informed that our interest rate has lowered and we are eligible to refinance the loan. My question is, I would like to move back home and allow my friends girlfriend to take my place on the mortgage so I can be free of the financial burden of the house and move, first, is this an actual option for me, and secondly, is there a buyout payment that I should be asking for? Thanks, hope I made sense.
The clean way to do this is to sell the house to your roommate and his GF so THEY can take advantage of these lower interest rates. This transaction will both take your name off the property AND relieve you of financial obligations regarding the loan. A good loan officer will be able to help you. Good Luck!
Refinance Home Loan
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