QUESTION
I need help removing my brother from home equity line of credit
Asked on Aug 24th, 2013 on Real Estate - Colorado
More details to this question:
I own a townhouse with my brother. We had two mortgages, one normal, and the smaller a home equity line of credit. I refinanced the larger loan to remove him off, and succeeded. Now, the bank where we have the HELOC is saying there is no way for me to remove him from it unless we refinance, which they won't do because we are upside down on the house. I *have* to get my brother off of the HELOC, neither of us have money to pay it off in a chunk. What are all the options to get my brother off of the HELOC? Please please please?
1 ANSWER
3 Awards
I must be missing something in your question. I do not understand why you must get your brother off of the line of credit or what you expect to achieve by doing so.
Bottom line is we cannot force the lender to remove him and we cannot force a lender to refinance the loan under only your name.
Good luck,
Don
Answered on Aug 29th, 2013 at 4:11 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.