Need cosigner removed from Mortgages

[Joseph Van Fleet]

Hello everyone,

I need to have a cosigner's name removed from 5 investment property mortgages.  One lender will allow me to use a release of reliability form, along with a $550 fee, to remove it.  The other lenders do not allow this.  It seems refinancing is the only option.  The rates my lender is quoting are around 4.5% with total closing fees around $5000-6000 for each of the 4 loans.  They can roll this into the new mortgages.

Are there any tricks I'm missing to solve this problem?

The whole process makes me a little nervous so I wanted to make sure I'm thinking about this correctly.

Thanks for any comments or suggestions!