Posted on: 19th May, 2010 10:09 am
Iam getting divorced after 8 years separation my soon to be ex husband wants to sign his half of our house to our children thats ok but he also wants me to do the same, there is still a mortgage on the house does anyone know if this can be done
welcome shazzaosullivan,
once the property is transferred to your children, the lender will want the children to refinance the loan in their names. if this is not done, then they can call the loan immediately. the lender will want that the owner of the property should be the borrower of the mortgage.
once the property is transferred to your children, the lender will want the children to refinance the loan in their names. if this is not done, then they can call the loan immediately. the lender will want that the owner of the property should be the borrower of the mortgage.