Posted on: 01st Jan, 2009 09:14 pm
My dad helped my husband and I get our house. I had gone through a divorce and bankruptsy previously and did not have the credit to get a home. My dad is listed on the loan as the primary, and I am listed as the co-borrower. My dad paid the down payment, and I paid him back a year ago. My husband and I pay the mortgage. My father does not live at the home. We have recently had a falling out with my father, and I am afraid that he is going to try to take my home. I want to have him removed from the title so he can not do this. What can I do. He lives part time in Nebraska and part time in Texas. I want to secure my home until I can get his name off of the loan. Can you give me some advice?
hi crys,
as far as removing your father from the property deed is concerned, you will have to ask your father to sign a quitclaim deed in your favor. once the deed is signed, you will have to notarize it and record it at the county recorder's office. both you and your dad are equally responsible for paying the mortgage debts. normally, lenders want borrowers to refinance the mortgage if they want to remove someone from the mortgage docs. so you will have to speak to the lender for a refinancing.
thanks
as far as removing your father from the property deed is concerned, you will have to ask your father to sign a quitclaim deed in your favor. once the deed is signed, you will have to notarize it and record it at the county recorder's office. both you and your dad are equally responsible for paying the mortgage debts. normally, lenders want borrowers to refinance the mortgage if they want to remove someone from the mortgage docs. so you will have to speak to the lender for a refinancing.
thanks
you need to patch up your falling out somewhat - at least to the point at which you're able to have confidence that your Dad won't "try to take" your home. of course, he couldn't do that without some sort of legal action anyway.
repairing your relationship, at least in part, will help a great deal with what you're trying to accomplish. if he's a reasonably rational man, he will note that your repayment of his funds used for down payment, and therefore be open to the transfer of title.
as jameshogg noted, your lender would desire a refinance be done to reflect the ownership change.
repairing your relationship, at least in part, will help a great deal with what you're trying to accomplish. if he's a reasonably rational man, he will note that your repayment of his funds used for down payment, and therefore be open to the transfer of title.
as jameshogg noted, your lender would desire a refinance be done to reflect the ownership change.
