Posted on: 05th Sep, 2008 11:18 am
My questiuon is My mom refinanced on her home that was previouse paid and now with my step father the mortgage is now in his name because financially my mom is on ss# and does not receive that much, and my step dad is on the loan, Can my other 2-sister's make my step dad sign-over a quick claim deed with my my mother accepting this when her name is no longer on the loan at the bank? and my sister's dont work they both also receive Social Security can they make my step father sign over ? I' very worried about this can you give me some information to help him out.
Welcome rrodriguez.
Do you want the sisters to take over the property and the loan? what's your purpose of asking your step father to sign over property. If your sisters simply want to take over the house, it may or may not be possible depending upon the loan contract. If the contract says any transfer of property could make the mortgage due, the lender will will ask for immediate payements, that too the entire loan balance.
Thanks.
Do you want the sisters to take over the property and the loan? what's your purpose of asking your step father to sign over property. If your sisters simply want to take over the house, it may or may not be possible depending upon the loan contract. If the contract says any transfer of property could make the mortgage due, the lender will will ask for immediate payements, that too the entire loan balance.
Thanks.