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refinancing my home that is in a revocable living trust

Posted on: 01st Feb, 2010 04:52 pm
my bank says i need to remove my home from our revocable living trust in order to refinance the mortgage. what form do i use to do this and what are the steps to remove and then put back my home once it's been refinanced. can i do this myself? thank you!
Hi Shawn,

You as the beneficiary of the revocable trust will have to sign a quit claim deed and transfer the property to yourself as the grantee. This should help you transfer the home from the revocable trust. However, I'm not sure if the lender will allow you to put the home back into the trust once the mortgage has been refinanced. You should discuss this with your lender before proceeding with the refinance. When you transfer the home from the trust, you should take help from an attorney to make sure everything is done properly and legally.
Posted on: 01st Feb, 2010 10:26 pm
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