Posted on: 04th Dec, 2008 08:10 pm
Mother has a home with mortgage can she quit claim a deed to me and i continute to pay the note?...My mother has a mortgage note with a bank. She would like to put the house in my name and i take up the notes....
hi mbj,
your mother can definitely quitclaim the property to you. but once the ownership of the property is changed, the lender will ask you to refinance the property. this will help you to transfer the mortgage note in your name. but for refinancing the property, the lender will check your credit and your income. so you need to qualify for the refinancing.
thanks
your mother can definitely quitclaim the property to you. but once the ownership of the property is changed, the lender will ask you to refinance the property. this will help you to transfer the mortgage note in your name. but for refinancing the property, the lender will check your credit and your income. so you need to qualify for the refinancing.
thanks