Posted on: 02nd May, 2011 01:48 pm
i am 73 yrs and would like to have my daughters name on my mortgage however at this point she has insufficent credit or income. is there any way i can do this so that if anything happened to me she would have some legal interest?
you could try to first refiance into both of your names. if that doesnt work, you could try a reverse mortgage, use some of the money to repair her credit, keep a portion in a cd for her to be able to use to close the refinance to get out of the reverse mortgage, after you pass. or you can place her on title now, and hope that in the future, her credit and income will rise. good luck
Hi maureen!
Welcome to forums!
Unless you and your daughter refinance the mortgage, you won't be able to add her name to the mortgage docs. If she has poor credit or insufficient income, then it will be difficult for you to add her name to the mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Unless you and your daughter refinance the mortgage, you won't be able to add her name to the mortgage docs. If she has poor credit or insufficient income, then it will be difficult for you to add her name to the mortgage.
Feel free to ask if you've further queries.
Sussane
