Posted on: 07th May, 2009 04:52 am
my dad wants to sign his house over to me and my husband but he owes money on it yet is it possible that he can sign it over and my husband and i take over the payments?
it's a possibility dawn, yes. there are two ways in which it might work. you and your husband could, if qualified, attempt to assume the mortgage that your dad has with his lender. many lenders, however, do not allow this.
the other prime option would be for the two of you to refinance the existing loan with that lender or another lender.
the other prime option would be for the two of you to refinance the existing loan with that lender or another lender.