Posted on: 14th Apr, 2009 02:47 pm
Hi,
If I am getting and FHA loan, can I add someone else to the title? My sister and I are going to live together, but the mortgage will be in my name due to her credit.
Thanks,
If I am getting and FHA loan, can I add someone else to the title? My sister and I are going to live together, but the mortgage will be in my name due to her credit.
Thanks,
cherfilst,
yes, you can add someone else's name to the title, just have your attorney prepare a quit claim deed and you can record it keep in mind that even though he or she will be added to the title, whom ever is on the mortgage is responsible for making the mortgage payments
yes, you can add someone else's name to the title, just have your attorney prepare a quit claim deed and you can record it keep in mind that even though he or she will be added to the title, whom ever is on the mortgage is responsible for making the mortgage payments
I was told that because it is an FHA we couldn't do that. We are in MA.
After closing you can add whom ever you want on title
Hi cherfilst,
It depends on what kind of loan you are taking. Most of loans come with a 'due on sale' clause which allows the lender to call the entire amount of loan due if any change is made to the title. Thus, you might not be allowed to add your sister to the title, if she is not on the loan.
It depends on what kind of loan you are taking. Most of loans come with a 'due on sale' clause which allows the lender to call the entire amount of loan due if any change is made to the title. Thus, you might not be allowed to add your sister to the title, if she is not on the loan.
Cherfilst,
I have never had a problem or actually heard of a lender calling the loan due in full based on adding someone to title after closing. It would be in your best interest to consult your attorney, he/she will see all of your closing docs and know which direction to point you in. He or she may even suggest a putting your home in a trust.
I have never had a problem or actually heard of a lender calling the loan due in full based on adding someone to title after closing. It would be in your best interest to consult your attorney, he/she will see all of your closing docs and know which direction to point you in. He or she may even suggest a putting your home in a trust.
Hi,
Yes you can add other name as title but you need to follow some rule for that.But when you will get brank down your name that time you will get problem .
regards
Dilip
Yes you can add other name as title but you need to follow some rule for that.But when you will get brank down your name that time you will get problem .
regards
Dilip