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How to finance an inherited property

Posted on: 26th Jul, 2012 03:27 pm
a couple of years ago, when my wife's granparents passed away, we inhetited their house. the house had a home equity loan attached to it. we have beem paying the note since, but in their name. the title is already in our name, but we would like to get the mortgage in our name for credit purposes. what is the best way of going about this? thanks in advance.
hi dplaisance,

you will have to refinance the existing mortgage in your name. this will help you in transferring the loan from the grandparent's name to your names. however, in order to do so, you should have equity in your property.

thanks
Posted on: 26th Jul, 2012 08:16 pm
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