Posted on: 29th May, 2011 12:07 pm
i just found out that another home is still in my name can i transfer the old home in my children name and still qualify for a rural development loan if i do it the same day of my closing.?
Hi ttvjo!
Welcome to forums!
You can transfer the property to your children if they are more than 18 years of age. As far as I know, you do it on the day of the closing. Nevertheless, you can contact a real estate attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can transfer the property to your children if they are more than 18 years of age. As far as I know, you do it on the day of the closing. Nevertheless, you can contact a real estate attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Well, here we are and it's Tuesday. I trust you spoke with your lender and discussed how to rectify the situation. It's up to them, based on product guidelines, as to how you proceed, I believe. Obviously, you'll already have engaged the services of a real estate attorney in preparation for the closing on this new home.
I hope you'll be able to transfer title concurrently with your obtaining the new mortgage and avoid annoying delays.
I hope you'll be able to transfer title concurrently with your obtaining the new mortgage and avoid annoying delays.
