HELP! Co-signer issues

[Brady W myers]

I’ll try to keep this short..

I started buying property in 2018 using a local credit union and my dad as a co signer. Things were going smoothly I’ve never missed a payment I’m on auto pay and have plenty of reserves I have a great payment history to this day.

However my main lender at this bank got promoted and a local family friend took his place, my dad is unwilling to continue co-signing with this new lender because he “doesn’t like to do business with friends”.. he also is done with this bank. he got emotional. So I can’t just switch lenders at this bank to make him happy. 

I have 5 mortgages with this bank and don't really want to refi with another one because I have such a low interest rate 4%. I'm looking at over 8% for DSCR loans.

That being said since the loans are already there and I never miss payments do you think I can tell the bank sorry my co signer is unwilling to provide and new information and just keep making the payments. Or do you think they will call the loans due because they don’t want to take any risks? 

This has been a very bothersome issue for me. Interest rates don’t help. I don’t know what to do at this point. Please any advice will help. 

[Stephanie P.]

Quote from @Brady W myers:

I’ll try to keep this short..

I started buying property in 2018 using a local credit union and my dad as a co signer. Things were going smoothly I’ve never missed a payment I’m on auto pay and have plenty of reserves I have a great payment history to this day.

However my main lender at this bank got promoted and a local family friend took his place, my dad is unwilling to continue co-signing with this new lender because he “doesn’t like to do business with friends”.. he also is done with this bank. he got emotional. So I can’t just switch lenders at this bank to make him happy. 

I have 5 mortgages with this bank and don't really want to refi with another one because I have such a low interest rate 4%. I'm looking at over 8% for DSCR loans.

That being said since the loans are already there and I never miss payments do you think I can tell the bank sorry my co signer is unwilling to provide and new information and just keep making the payments. Or do you think they will call the loans due because they don’t want to take any risks? 

This has been a very bothersome issue for me. Interest rates don’t help. I don’t know what to do at this point. Please any advice will help. 

 Absolutely just keep making the payments.  Talk to your family friend and ask him, with your pay history, if you still need a co-signer.  Could be they will trust you if you can show you've made the payments and not Dad.