Posted on: 20th May, 2010 10:00 am
my mother and my brother had a house, my mom died 7 years ago, my brother couldnt keep up with the house payment, he quick claim, the house over to me, 4 years ago . what do i need to do to put the property/loan under my name
Hi zmcampos,
Your brother had already quit claimed the property to you. Thus, you are the owner of the property now. As far as the loan is concerned, you'll have to refinance it in your name. Thus, you would become responsible for the mortgage and the property.
Take care.
Your brother had already quit claimed the property to you. Thus, you are the owner of the property now. As far as the loan is concerned, you'll have to refinance it in your name. Thus, you would become responsible for the mortgage and the property.
Take care.
thank you very much for answering my question. whats the lenth of time that i have to refinace the property.
Hi Guest,
If the property is in your name, then you would be able to refinance the mortgage immediately provided you have the required credit score, income, debt to income ratio, etc.
Thanks
If the property is in your name, then you would be able to refinance the mortgage immediately provided you have the required credit score, income, debt to income ratio, etc.
Thanks
Hi,
After the quitclaim the property is in your name now and you can apply for re-finance the mortgage in your name. However, there are criteria which the lenders check before approving the re-finance. If you have a good credit score, good credit history and source of income then the lender may approve the re-finance.
After the quitclaim the property is in your name now and you can apply for re-finance the mortgage in your name. However, there are criteria which the lenders check before approving the re-finance. If you have a good credit score, good credit history and source of income then the lender may approve the re-finance.