Posted on: 08th Aug, 2009 03:24 pm
My son quit-claimed a house to me 2 years ago. I am attempting to re-finance the house after making mortgage payments for two years; however, the mortgage company (not the one that holds the mortgage on the house) wants to see my name on the mortgage or year-end interest statements before they'll go ahead with the re-fi. Currently only my son's name is listed. Any suggestions? "sherrydowell@earthlink.net"
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sherrryd
welcoem to the forum
have you notified the bank about the quit claim deed? probably thats woudl help and bank mayask you to follow the right procedure the refinance
good luck and feel free to ask
welcoem to the forum
have you notified the bank about the quit claim deed? probably thats woudl help and bank mayask you to follow the right procedure the refinance
good luck and feel free to ask
To sherrryd,
I think you ought to be looking for another lender for the refinance. Since your son quitclaimed the property to you, the title is in your name. Now, if you have good credit score and income, you can refinance the existing mortgage and put the loan in your name. I don't understand why the lender wants to see you on the current loan. Once you refinance, the mortgage will automatically change in your name. There's no need to include your name on the current loan and then again have it refinanced in your name. A simple refinance will take care of that, I believe.
I think you ought to be looking for another lender for the refinance. Since your son quitclaimed the property to you, the title is in your name. Now, if you have good credit score and income, you can refinance the existing mortgage and put the loan in your name. I don't understand why the lender wants to see you on the current loan. Once you refinance, the mortgage will automatically change in your name. There's no need to include your name on the current loan and then again have it refinanced in your name. A simple refinance will take care of that, I believe.