If my parents are co-borrowers on my mortgage, what happens if I want to assume the loan but my mother will not sign off?

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If my parents are co-borrowers on my mortgage, what happens if I want to assume the loan but my mother will not sign off?

I currently own a home and my parents were used as co-borrowers in order to help obtain the mortgage since I didn’t have credit history immediately out of college. They have no other financial interst in my home. I’m now filing for an assumption to remove them from the loan/deed which will likely be approved but my relationship with my mother has drastically declined. Does she still need to sign during the assumption closing or will my father’s signature be sufficient since this is a community property state (TX)? If not, is there any action I can take to force her to sign?

Asked on June 21, 2011 under Real Estate Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You are indeed in a pickle here.   You need to speak with a real estate attorney in your area on the matter as soon as you can.  No, your Father can not sign for your Mother unless he has a Power of Attorney to do so.  Her percentage of the property is still hers while she is alive.  It only passes to him on her death. I think that there may be litigation on the horizon and that there may not be much that you can do here. I am assuming that the property is titled in all of your names as well, correct? So there lies the next obstacle. Although paying off someone's debt is not necessarily a bad thing here it may not matter anyway if she is still a fee owner.  Good luck.


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