is it possible to remove a co-owner from a mortgage so they

[Mike]

Hi, is it possible to remove a co-owner from a mortgage so they can purchase their own mortgage. My inlaw and I both own my home. My inlaw has thier own home as well. They are getting older and are trying to purchase a multi-family home for themselves and us so that we can be there to care for them. They were approved for a new loan, only if their name is removed from my loan. As far as their own home loan now, they will have a renter. And as for my home, I plan on selling, but that could take a while because of my location and they need to do this now. My husband, sister inlaw, and I will be rotating staying with them in the mean time. How do we do this without refinancing my home? Will a quitdeed or reverse mortgage or anything else I am unaware of work?