Posted on: 08th Jun, 2010 03:00 pm
Hi I'm alittle lost here can someone help? my parents are getting to an age where they no longer wish to have there house in there name, and I am lost in which way would be best to go by. They own about $90,000 and I was thinking of paying it off and refianceing it with another bank with my name is it possible and what steps do I need to take, or is there a better way of going about this. Please Help Thanks
hi cheng,
you will have to request your parents to sign a quit claim deed and transfer the property to you. once they transfer the property to you, you can refinance the existing loan. this will help you in becoming the owner of the property as well as the loan.
thanks
you will have to request your parents to sign a quit claim deed and transfer the property to you. once they transfer the property to you, you can refinance the existing loan. this will help you in becoming the owner of the property as well as the loan.
thanks