I`m trying to buy a house but I lent my credit to a cousin to buy his house I would accept all answers how to remove myself from the loan

Asked by Philipchristian, La Puente, CA Sat Dec 5, 2009

Help the community by answering this question:

+ web reference
Web reference:


Keane Ng, Mortgage Broker Or Lender, Renton, WA
Sat Dec 5, 2009
You have to refinance that loan under you cousin's name only to get it off your name.

If the payments have been from your cousin's bank account to that mortgage company, you should be able to take that loan out of your debt ratio.
1 vote
William Pola…, Mortgage Broker Or Lender, Suwanee, GA
Mon Dec 7, 2009
Mr. Hernandez is correct. Have your cousin give you 12 months cancelled checks to show your lender that he/she is making the monthly payments. If he/she doesn't pay with checks, get a printout of the payments made from the bank statement for 12 months. The debt will not be counted against you. If your cousin bought the house with an FHA loan, I'm assuming that you were a non-occupying borrower. If that's the case, you may still buy a house with an FHA loan.
0 votes
M.D.J, , Los Angeles, CA
Sat Dec 5, 2009
As already mentioned your cousin can refinance but needs to do it on their own to get you completely removed. But, you can still buy your house if you can show proof that your cousin has paid the mortgage for the last twelve months.

Good luck.
0 votes
CCC, Home Owner, San Diego, CA
Sat Dec 5, 2009
You cousin may sale the property too.
0 votes
Michelle Mil…, , Florida
Sat Dec 5, 2009
The only way you can get off the loan is for your cousin to have enough credit and income to qualify for the home loan himself. If infact he can qualify with his income and credit then he can refinance the home is his name solely and remove you from the mortgage.
0 votes
Search Advice
Ask our community a question
Financing in La Puente Zip Codes

Email me when…

Learn more