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annaw29 · Joined: 15 Jun 2009 Posts: 1 1.33 Dollars($)

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

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

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

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

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

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Some tiems the bank may ask him to refinance and it coudl vary from case to case

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Yes, Bank will ask for refinance.

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Transfer of Property