Posted on: 20th Mar, 2009 05:00 pm
My girlfriends mother was recently put into a nursing home, and she is on state aid. We are worried about the state taking the house, so we are trying to get it put into my name. The house is still mortgaged, but the amount owed on it is to much for us to just pay off but not enought to just let it go.
unfortunatly neither of us have good enough credit to remortgage the remainder owed. Is it possible to put the house in my name but keep the current mortgage? or what other options are there?
unfortunatly neither of us have good enough credit to remortgage the remainder owed. Is it possible to put the house in my name but keep the current mortgage? or what other options are there?
Hi flysparke,
As she is in a nursing home and is on the state aid, I don't think it would be possible now for her to transfer the title to your girlfriend and you. A transfer of this sort will not be considered as valid and the state will have the right to put a lien on the property or take possession of it. Moreover, as there is a mortgage on the property and you guys don't have a good credit, the lender also may not allow such a transfer of ownership.
As she is in a nursing home and is on the state aid, I don't think it would be possible now for her to transfer the title to your girlfriend and you. A transfer of this sort will not be considered as valid and the state will have the right to put a lien on the property or take possession of it. Moreover, as there is a mortgage on the property and you guys don't have a good credit, the lender also may not allow such a transfer of ownership.