Posted on: 03rd Nov, 2008 11:12 am
MY BROTHER IS A 100% V.A. DISABLED VETERAN. HE WANTED TO PURCHASE A NEW HOME. HOWEVER, HIS INCOME WAS NOT ENOUGH TO QUALIFY SO MY HUSBAND AND MYSELF ARE BUYING THE HOME WITH HIM. IN THE STATE OF PA A DISABLED VETERAN CAN GET AN EXEMPTION FROM REAL ESTATE TAXES BECAUSE OF HIS DISABILITY. HOWEVER, THE V.A. SAID HE HAS TO BE THE SOLE OWNER OF THE HOME EVEN THOUGH HE CANNOT LIVE ALONE. IF MY HUSBAND AND MYSELF ARE ON THE MORTGAGE WITH HIM, CAN BE BE LISTED ALONE ON THE TITLE OR THE DEED AT SETTLEMENT OR DO WE HAVE TO WAIT AND FILE FOR A QUITCLAIM DEED LATER? THANK YOU.
This question would be better answered by the lender you do your loan through. Yes you can legally do that but most lenders impose their own policies. Your lender may or may not allow it. Chances are they will.
Hi JDDGTJ!
Welcome to forums!
Yes, I think you can do it. But again, I agree with Greg that lenders have their own policies. You can talk to the lender once and then take the decision.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Yes, I think you can do it. But again, I agree with Greg that lenders have their own policies. You can talk to the lender once and then take the decision.
Feel free to ask if you have further queries.
Sussane
