Posted on: 12th Jan, 2009 12:33 pm
How can you get your name on a home so you have legal interest in it, when the house has a mortgage on it and you can't have your name on the mortgage?
well, you could scam someone like many others are doing these days - that's one way.
otherwise, you'd need a willing owner to have your name added to the title of a home.
i guess the bottom line answer depends on your motives here.
otherwise, you'd need a willing owner to have your name added to the title of a home.
i guess the bottom line answer depends on your motives here.
So a person can just have their name added to the mortgage and the bank carrying the loan won't care?
a loan cannot be altered. whoever is liable for the loan is still liable and adding a person to an existing note is not possible.
what are you driving at, kimmer? is it that you'll be added as an owner of the house? if that's the case, then you can be added (usually) with no difficulty.
what to keep in mind is this: whenever the title to a home is changed (a name added or deleted), the lender ought to be notified. the addition or deletion could effect the repayment of the mortgage loan. the lender may be upset at the change unless it is aware of it beforehand and can assure itself that its security is intact.
what are you driving at, kimmer? is it that you'll be added as an owner of the house? if that's the case, then you can be added (usually) with no difficulty.
what to keep in mind is this: whenever the title to a home is changed (a name added or deleted), the lender ought to be notified. the addition or deletion could effect the repayment of the mortgage loan. the lender may be upset at the change unless it is aware of it beforehand and can assure itself that its security is intact.