Posted by dannj on May 09, 2008 at 13:39:34:
I currently have an interest only loan on a vacant piece of property in a certain southern state. THe loan was for 3yrs set to balloon May 1 2008. Suntrust sent a notice stating that they would happily extend the terms of the loan until May 2011. I do not have the funds to pay the loan off at this point. And the property is upside down so a sale will not work.
My Father co-signed this loan. He regrests ever co-signing of course and I would hate to have him on the note for another 3 yrs. They need him to sign this extension as well but I'm hoping to remove him from the responsibility of the note. According to suntrust, a simple assumption will not do this but a re-fi will. Someone at suntrust thought for sure there would be another product I could easily qualify for given my excellent credit score and on-time payment history over the past 3yrs.
I don't want to come across as an amateur and get hung up on words, but how can I get suntrust to see things my way?
Thanks in advance.
- Re: Possible to remove co-signer Crystal Williams 10:36:23 06/01/08 (0)
- Given how the foreclosures are Rich-CA 17:26:29 05/09/08 (1)
- Re: any other way ? dannj 08:35:22 05/13/08 (0)