Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Transfer of Property

Author Message
Icon Mini Profile annaw29





Joined: 15 Jun 2009

Posts: 1

1.33 Dollars($)
Post Posted: Mon Jun 15, 2009 9:21 pm    Post subject: Transfer of Property
Like 0
Dislike 0

My Question is: What will happen if I transfer the deed to my house to my adult son and I keep making the Mortgage Payment, Taxes and Insurance.....Will the Mortgage Company give me any Problems or will it be ok ? I am in California
Icon Mini Profile Realgeni





Joined: 13 Apr 2009

Posts: 1434

99.76 Dollars($)
Post Posted: Mon Jun 15, 2009 10:13 pm    Post subject:
Like 0
Dislike 0

annaw29

Welcoem to the forum

Yes you can give quite claim deed to yoru son,but you are still liable for the monthly payment to your lender

But I think you also need to inform your lender abotu the change in situation. Normall they shoudl not have any problem, but in this market situation anythign can happen

Good luck and feel free to ask
Icon Mini Profile gunzijjistaff
gunz.ijjistaff




Joined: 07 Apr 2009

Posts: 712

4.51 Dollars($)
Post Posted: Tue Jun 16, 2009 9:44 am    Post subject:
Like 0
Dislike 0

Hi annaw29,

Welcome to our forum.

If you signed quitclaim deed then your son will be the owner of property. After refinance mortgage then your son will be responsible to pay mortgage if you wish to pay dues then don't refinance mortgage.

Inform to your Lender about your situation.

Thanks & Regards.

Very Happy Very Happy Very Happy
Icon Mini Profile Realgeni





Joined: 13 Apr 2009

Posts: 1434

99.76 Dollars($)
Post Posted: Tue Jun 16, 2009 11:51 am    Post subject:
Like 0
Dislike 0

Some tiems the bank may ask him to refinance and it coudl vary from case to case
Icon Mini Profile gunzijjistaff
gunz.ijjistaff




Joined: 07 Apr 2009

Posts: 712

4.51 Dollars($)
Post Posted: Tue Jun 16, 2009 9:22 pm    Post subject:
Like 0
Dislike 0

Yes, Bank will ask for refinance.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.068 seconds.