Posted on: 19th Mar, 2011 07:52 am
on a quit deed,to add my son if his cridit is not good.can i still put the house in his name ,he will mwke payment? is that still ok?
hi tom 3,
welcome to mortgage fit,
deed and mortgage docs are completely two different entities.even your son's credit is bad still you can add his name in the quitclaim deed..but only thing which you need to take care that you should have major stake in the property so that lender will not ask your son to refinance the property... (which obviously your son may not qualify due to bad credit..as per your post)
welcome to mortgage fit,
deed and mortgage docs are completely two different entities.even your son's credit is bad still you can add his name in the quitclaim deed..but only thing which you need to take care that you should have major stake in the property so that lender will not ask your son to refinance the property... (which obviously your son may not qualify due to bad credit..as per your post)