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Assumption aplication

Posted on: 09th Nov, 2009 09:02 am
How to add another person to existing home mortgage loan? Do I need to fill out all those aplications for assumpton process? All I want to do is add my son's name to monthly statements I receive. He pays the loan, I just helped him acquire it because my credit score was nearly perfect.
Thank you.
An assumption may work, but typically it means you are removing yourself and someone else is taking responsibility. Refinancing is the only other way to add him to the mortgage.
Posted on: 09th Nov, 2009 09:11 am
But I don't want to remove myself, so there is no way I can simply add him to the statement?
Posted on: 09th Nov, 2009 09:19 am
since an assumption may remove you then you have to refinance. he has to credit qualify. check with your bank on the assumption matter.
Posted on: 09th Nov, 2009 09:23 am
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