Posted on: 23rd Oct, 2012 07:43 am
My Parent's names are both on the mortgage. Mom passed away and my brother would like Dad to have his name put on the Mortgage with a non qualified assumption.
His thought is so he can claim the house as a deduction. Can he do this without being qualified as a borrow. Is the criteria for this less than if my brother were to buy the home from Dad and have to qualify for a loan on his own?
His thought is so he can claim the house as a deduction. Can he do this without being qualified as a borrow. Is the criteria for this less than if my brother were to buy the home from Dad and have to qualify for a loan on his own?
Ask the Lender.
We can not answer for the Lender.
We do not know the Lender
We can not answer on behalf of someone we do not know and even if we know the Lenedr, we can not answer for the Lender.
Call the Lender 800 Customer Service number and ask.
We can not answer for the Lender.
We do not know the Lender
We can not answer on behalf of someone we do not know and even if we know the Lenedr, we can not answer for the Lender.
Call the Lender 800 Customer Service number and ask.
Hi simpson!
Welcome to forums!
As far as I know, in order to get qualified for an assumption, the lender will want your father to meet all the required criteria. Unless concerned person meets the required criteria, I don't think he will qualify for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, in order to get qualified for an assumption, the lender will want your father to meet all the required criteria. Unless concerned person meets the required criteria, I don't think he will qualify for a loan.
Feel free to ask if you've further queries.
Sussane
