Mortgage to Pay for Inherited Property

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Mortgage to Pay for Inherited Property

greg3

Posted on: 11th Jul, 2010 10:47 am

I will be jointly inheriting my mother's house with my sister, through a revocable living trust. If I buy out my sister to live in the house, is there a different mortgage process? The house is in California and is paid for, so I would have 1/2 equity in the home to begin with. Thank you.

Total Reply : 1

this could easily be accomplished all through closing. your sister would simply quit claim to you and you would obtain a cash out refinance. you may have to be on title for 6 months before you can do this however.

greg3

Posted on: 11th Jul, 2010 01:31 pm

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