What is the average cost to remove someone from a mortgage l

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Me and my sister took out a mortgage loan and now she wants to buy her own house. I don't want to refinance and my lender told me that my sister will need a purchase contract or letter that states that my sister will sell her portion of the property back to me at no cost. It will cost 550 to do this. Is this expensive or an average price to have this done?


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(Source: mortgagefit.com)