Separate names with a comma.
Discussion in 'Credit Talk' started by dannyrinal, Sep 9, 2009.
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I don't know why not, in theory, if your credit is good enough to get an unsecured loan that's as big as the remaining balance. (of course the chances of that are probably pretty slim if you're in the predicament that it sounds like you're in.
But, backing up a bit, why do YOU need to get her name off the HELOC? (and why do you care more than she does?) It seems to me that SHE would want to work with you to get her name off (to avoid any problems down the line), but it sounds like she wants you to take all the lumps (e.g. you get the credit hit and she doesn't).
I realize I don't know all the details, but, it seems like you went into the house together, you should come out of it together. For better or for worse (as they say).
Bottom line, it sounds like someone's going to take some lumps so why should it just be you? Either way, in a couple of years, it won't make much difference, credit-wise.
You could just leave her name on if you can continue to make the payments. It won't impact her at all, and you don't have to sell or refi.
As ccbob said, if she doesn't want her name off, why should you?