Posted on: 29th Nov, 2008 10:39 am
my step dad lived in a house and now i live in it and pay all the morgages and bill he wants me to stay in it and he wants nothing to do with it anymore how would we go about changing the morgage to my name without a sale or refinance
I would find out if you can 'assume' the mortgage. You will need to speak to the mortgage dept, and they'll tell you yes/no. You will need to qualify to do this....and they'll also ask to see your payments.
otherwise, to change the mortgage into your name you will need to refinance.
otherwise, to change the mortgage into your name you will need to refinance.
hi bextracool,
you can contact the lender and check if they are ready to do a novation. novation is also a process of transferring the mortgage. however, it will be the discretion of the lender whether he will agree to it or not. if the lender does not agree, then as banker has said, you will have to refinance it.
thanks,
jerry
you can contact the lender and check if they are ready to do a novation. novation is also a process of transferring the mortgage. however, it will be the discretion of the lender whether he will agree to it or not. if the lender does not agree, then as banker has said, you will have to refinance it.
thanks,
jerry
Hi,
Yes, You can transfer the ownership of mortage from your father to you. For that you need to ask to your father then you can transfer to your self. For that you can take advoice from any lender..
Other option is you go through by quit claim or refinance so you can easilly transfer the ownership.
I hope you unerstand.
Regards
Dilip
Yes, You can transfer the ownership of mortage from your father to you. For that you need to ask to your father then you can transfer to your self. For that you can take advoice from any lender..
Other option is you go through by quit claim or refinance so you can easilly transfer the ownership.
I hope you unerstand.
Regards
Dilip
dilip this post is 6 months old...please look at the dates before you respond.
