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-   -   Mortgage with parents (https://www.askmehelpdesk.com/showthread.php?t=278840)

  • Nov 9, 2008, 11:26 AM
    Kive
    Mortgage with parents
    How do I get out of a mortgage that I am on with my parents?
  • Nov 9, 2008, 11:35 AM
    ScottGem

    You can't. Your parents will need to refinance without you.
  • Nov 9, 2008, 11:39 AM
    Kive

    Thanks for your reply ScottGem. Do you know anything about novation for mortgages in the uk?
  • Nov 9, 2008, 11:49 AM
    ScottGem

    Novation means substituing one party in a contract for another. If all parties including the mortgage lender agree you may be able to have someone take over your interest in the mortgage.

    This may be more common in the UK, but its rare in the US.
  • Nov 9, 2008, 11:50 AM
    Kive

    Thanks very much for your help!
    Kive

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