How can I get out of a mortgage that is is 4 names on a duplex I have paid my half for 19 years

Question

How can I get out of a mortgage that is is 4 names on a duplex I have paid my half for 19 years

Answer

A one-line question on a complex subject may leave attorneys with ideas on what your answer may be scratching their heads and wondering whether they've guessed correctly about the facts not given. What does "4 names on a duplex" mean? Four buyers? Four borrowers? Did two of them buy one unit and the other two the second unit, or is everyone a co-owner? Why is your responsibility one-half, rather than one-fourth? Was it a 15 year loan, or 25, or 30? There is an endless list of additional questions. One possibility for you is to re-post on LawGuru, giving a lot more detail (no names or addresses, of course). Or, if you wish, e-mail or call me directly, as I'd be happy to give you some alternatives ([email protected]/* */), but it's just not possible to figure out how to "get out of a mortgage" entered into with other people and perhaps not fully paid off without a lot more particulars.

Answer

If you truly have 4 debtors on the mortgage, the only way to remove yourself from the debt. is with the lenders consent. Good luck with that.

You could also have the others buy out your interest and refinance. Of course if you have all parties agree, thee are several ways to proceed. More facts are required.

Answer

There has to be a refinance, which is done with the lender's consent, or a new lender. If your name is on title, no institutional lender is willing to refinance in the names of the other 3 people without getting your name on it as well.