Posted on: 09th Dec, 2009 06:42 am
I was wandering what forms I need to have if I am taking over payments on a manufactured home from a family member. My credit was not good enough to have it put in my name and the Loan officer for his mortgage company told me that I had to make 18 payments on time and they would put it in my name. I have been paying the money on time straight to the mortgage company for 8 months now but I feel like I am not protected in any way. What can I do? Deed for Contract or what? Please help... :?
hi melizar!
welcome to forums!
in order to get the property transferred in your name, you will have to ask the present owner of the property to sign a quit claim deed in your favor. as far as the mortgage is concerned, you will have to refinance it in your name. steady income and a good credit score are required to get a refinance. moreover, there should be some equity in the property.
feel free to ask if you've further queries.
sussane
welcome to forums!
in order to get the property transferred in your name, you will have to ask the present owner of the property to sign a quit claim deed in your favor. as far as the mortgage is concerned, you will have to refinance it in your name. steady income and a good credit score are required to get a refinance. moreover, there should be some equity in the property.
feel free to ask if you've further queries.
sussane