Posted on: 13th Apr, 2010 12:08 pm
i was told to do a quit claim deed to have my mortgage modifcation done, so that my son income will not be added to the loan modifcation, when i purchase i didn't want his income included but the loan officer stated that i should. will his income still be included? can i get a loan modifcation without his income added. i was laid off and now working on a reduction of wages. i just can't afford 1,390.00 a month. i don't want to file for bankruptcy-but if i can't get the home loan modification that's the only way i can go.
thank you.
thank you.
As your son's name is mentioned on the mortgage documents, then his income will be considered while you apply for a loan modification. A quit claim deed will only help you in removing your son from the property deed.