Posted on: 17th Dec, 2008 12:14 pm
my mom co signed a home loan for me about 16 years ago in az. ten years ago i wanted to move to pa and mom was to move into the az home. she paid me $10,000 and had me sign a quit claim. she never refinanced and now at 80 is in ill health and cannot refinance. what are my options if she passes away before the home is paid in full?
Hi dawglvr,
You have mentioned that your mother never refinanced the loan. In that case, I guess, the loan was in your name and you were paying the dues. You can ask your mother to reverse quitclaim the property to you. Once the ownership of the property is transferred in your name, you can then pay the mortgage dues and maintain the property.
Thanks
You have mentioned that your mother never refinanced the loan. In that case, I guess, the loan was in your name and you were paying the dues. You can ask your mother to reverse quitclaim the property to you. Once the ownership of the property is transferred in your name, you can then pay the mortgage dues and maintain the property.
Thanks