Can I pay for a property that is not under my name in the mortagage loan?
Can I pay for a property that is not under my name in the mortagage loan?
My grandmother has a good credit. I don't. She wants to get the property for me and I will be in charge of the monthly payments. I have a good income. A lawyer told me that I can do a quit claim deed. But what about the loan? If something happens to her (she is 83 years old) What can happen? If at some point I want to sell or refinance.
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If something were to happen the estate would be responsible for the payments or disposition of the property - keep making the payments and nothing happens -
Brian Barnes
ENG Lending Nationwide Loans
Brian@Aimwithfocus.com