Posted on: 29th Oct, 2010 11:02 am
my husband and i own are home with a very high adjustable rate mortgage on a inexpensive home 80,000 home pmnt going up to 1400 december 1st. do to past poor credit and husbands loss of income refinance is not a option. my grandfather offered to put the house in his name to refinance it. is this something that could be done? also he has good credit but is retired and up their in his years. is this possible to do?
Welcome brigrl,
If your grandfather is able to show some kind of income, then you can transfer the property to him and he can refinance the mortgage to get a low interest rate. However, if your grandfather does not have any income, then he won't be able to get a mortgage refinance though he has a good credit.
If your grandfather is able to show some kind of income, then you can transfer the property to him and he can refinance the mortgage to get a low interest rate. However, if your grandfather does not have any income, then he won't be able to get a mortgage refinance though he has a good credit.