Can i bring my friends to court to get my name off a mortgage

UPDATED: Sep 30, 2022

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Can i bring my friends to court to get my name off a mortgage

I cosigned a mortgage with the promise
of them taking my name off at my
leisure well its been 3 years and i
want it off now and i found a coupke
ways to do it like assuming the loan
but they dont wanna do it that way ge
wants to refiance which is okay by me
but they are saving money and wont do
it is there excuse do you think the
courts would force them too?

Asked on March 1, 2016 under Real Estate Law, Wisconsin


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

No, a court will not force them to take your name off the loan: a "promise of them taking [your] name off at [your] leisure" is not an enforceable promise, since 1) there was no consideration for it, and 2) when there is a written agreement (the mortgage, loan, etc. documents) which obligates you, it cannot be modified or changed by an oral promise.
Furthermore, you'd also need the lender to agree to let you off the loan--all parties to a contract or loan, which includes the lender, must concur in releasing a party from the obligations thereunder. And there's no reason the lender would agree to this: it gets them nothing, and actually hurts them--it reduces the number of people who have to pay the loan.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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