Posted on: 31st Dec, 2008 07:15 pm
My uncle past away two months ago. Me and my brother are the only family left. Is there anyway I can take over the house so that it does not go back to the mortage company? P>S my credit is not good because of divorce.
hi trendyhairchick!
welcome to forums!
if you want to take over the mortgage, then you will have to refinance it. once you refinance, the mortgage will be transferred in your name. but you have mentioned that your credit is not good. until you improve your credit, the lenders may not agree to refinance the loan in your name. in that case, if both you and your brother are on the property deed, then your brother may refinance the loan in his name.
feel free to ask if you have further queries.
sussane
welcome to forums!
if you want to take over the mortgage, then you will have to refinance it. once you refinance, the mortgage will be transferred in your name. but you have mentioned that your credit is not good. until you improve your credit, the lenders may not agree to refinance the loan in your name. in that case, if both you and your brother are on the property deed, then your brother may refinance the loan in his name.
feel free to ask if you have further queries.
sussane