Posted on: 13th Oct, 2009 02:15 pm
i am a co-owner with my parents. the current mortgage is my name and parents. i would like to refinance the house under my name only. my parents has been retired now and would like to assume the loan by myself. i do not want my parents to do a quit claim, but would just like them to sign a consent form to allow me to refinance the house. does a consent form exist? if so, where can i get a copy.
A Quit Claim wouldn't work - you'll need to refinance it to get your parents off the note. Just refinance with any Lender - provide the Underwriter with a Letter of Explanation, explaining your scenario and your objective, and the Underwriter will let you know if she needs anything else from you.
