Compare Mortgage Quotes

Guest

My mother has a house in California, and I live in Washington. She wants to quit claim the house to me because she cant make the payments. She said once she does she will refinance it to get a lower rate that she can afford to pay. How will this affect my credit and will I have to file taxes? The house has barely any equity, and is worth about $200,000.00.

smithsussane · Posted: Sun May 10, 2009 7:48 pm Post subject:

Hi blondie!

Welcome to the forums!

If your name is only on the property deed and not on the mortgage, then you won't be responsible for the mortgage payments. As far as property taxes are concerned, you will be responsible for them. If your mother refinances the mortgage and adds your name to mortgage doc, then you would also be liable for mortgage payments.

Feel free to ask if you have further queries.

Sussane

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Quit claim