Posted on: 02nd Feb, 2008 03:01 pm
iam going to have my mother quit claim her house in my name it is going into forclosure can i stop the foreclosure and take over the pymts by contacting the mortage company about the quick claim deed
Hi,
Welcome to the forum.
You cannot quitclaim the property to you because you do not own the property. Before signing the quitclaim deed your mother should inform the lender. If the lender approves then your mother can quitclaim to you.
But before that you need to take the mortgage on you name.
"take over the house pymts or get a refinance on the home before it forclose" Yes you can do that. And for that you will have to contact with the lender ASAP and see if you can be approved for refinance.
Feel free to ask if you have any further questions.
Best of luck.
Larry
Welcome to the forum.
You cannot quitclaim the property to you because you do not own the property. Before signing the quitclaim deed your mother should inform the lender. If the lender approves then your mother can quitclaim to you.
But before that you need to take the mortgage on you name.
"take over the house pymts or get a refinance on the home before it forclose" Yes you can do that. And for that you will have to contact with the lender ASAP and see if you can be approved for refinance.
Feel free to ask if you have any further questions.
Best of luck.
Larry