If I currently have a home loan with my mother, how canI get her off the loan?

UPDATED: Jan 8, 2011

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If I currently have a home loan with my mother, how canI get her off the loan?

I am the primary loan holder. I currently live in the house and pay the mortgage.

Asked on January 8, 2011 under Real Estate Law, Ohio


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

You can try to refinance the property in your name only.  However, in this economy, it is more difficult than it used to be; it depends on your finances.  If a refinance is in fact denied, then you can ask the lender to allow what is called a "novation" to remove her name. While this is only rarely allowed, it's worth trying.  A novation could be accomplished by your showing the lender that you pay the mortgage and have always paid it. If you are current and hves never been late, the lender may allow you to remove her name from the mortgage.  A novation may also be obtained if you "buy" her release by making a substantial payment to reduce the existing mortgage balance.

Note:  This all asumes that your mother is not also on the title to the house and she is agreeble to having her name removed.

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