Posted on: 12th Feb, 2013 12:57 am
Hello everyone… I would like to gift an investment property which I own to my son. The assessed value of the property is around $850k. Appraised value should be higher. There is an existing loan of about 450k on the property. Can my son get a loan to pay off my loan when I transfer title to him?
Hello everyone!
Hello Velly!
I agree. Your son needs to meet the criteria set in order to get mortgage refinancing.
And I must say, a very generous gift!
By the way, great forums, guys. Hope to engage in more discussions soon.
Peter Vekselman
"twitter.com/coach_peter"
[External link deactivated as per forum rules. Thanks.]
Hello Velly!
I agree. Your son needs to meet the criteria set in order to get mortgage refinancing.
And I must say, a very generous gift!
By the way, great forums, guys. Hope to engage in more discussions soon.
Peter Vekselman
"twitter.com/coach_peter"
[External link deactivated as per forum rules. Thanks.]