How can I get a mortgage out of my name?

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How can I get a mortgage out of my name?

I have a mortgage in my name but the deed is in my sister’s name. She lives at the house and I don’t. She applied for a loan and was denied and I don’t want the mortgage in my name. What can I do?

Asked on September 30, 2016 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

You can't do anything other than pay off the mortgage, get your sister to pay it off for you, or have your sister refinance the mortgage in her own name. A mortgage is a contract; one party (you) to a contract cannot get out of it without the agrement of the other party (the bank or lender). The bank will not allow you out of the mortgage unless your sister successfully refinances it in her name only.


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