help

cchristyrh · Joined: 17 Feb 2006 Posts: 0 0.09 Dollars($)

we have property and home, my husband and i make the monthly payments.the problem is, we couldnt get the loan so my parents got it in there name.we dont want to refinace, we want to know if there is a way they can sign it over to us,we have been making the payment for about5 yrs. my parents have no problem with what we decide. they want us to start getting the credit for are property,plus if something happend to them my family would be out of a home. so is there a way so we dont have to refinace? we just want to get it are name.

blue · Posted: Fri Feb 17, 2006 3:24 pm Post subject:

Hi,

Why don't you want to go for a refinance? The reason to ask this question is that you are already making the payments.

In that case I think refinance may be the best option to transfer the loan in your name.

Regards,
Blue

Samantha · Posted: Fri Feb 17, 2006 3:43 pm Post subject:

Hi,

Welcome to Mortgagefit Forums.

Is there any problem with refinancing the loan in your name as I think that is the best possible option that I can think of?

Although I don't know what your actual problem in refinancing is, but if it is due to the charge that may come with the refinance, then I shall suggest you to look for no-point or no-cost refinances which may cost you less.

You may have to do a bit of shopping for that.Also you may opt for a stated income mortgage.

These are the options that might help you although I am making a guess at your problem as I don't have any details.

It's always to good to communicate with the lender and check if he can suggest something suitable.

Feel free to ask if you have any more doubts.

God bless you.

For Mortgagefit,
Samantha

Guest 0.10 Dollars($)

Hi,

I had a similar problem and I took up the matter to the lender who suggested me to refinance.

I got the mortgage in my name and at a lower rate too.

Angel

Cliff · Posted: Fri Feb 17, 2006 5:01 pm Post subject:

Hi cchristyrh,

If the mortgage stays in your parents name then you and your husband would not get the tax benefits nor the credit reporting. Is there some reason why you would not want to do a refinance? I think that would be the best way for you to get it in your name. You can do a Quit Claim Deed but that would only get you added on to title not for credit reporting though.

blue · Posted: Fri Feb 17, 2006 5:03 pm Post subject:

Hi Cliff,

It's nice to see you again after such a long time.

Regards,
Blue

Cliff · Posted: Fri Feb 17, 2006 5:05 pm Post subject:

Hi Blue,

Thanks it's great to be back. I've gone back to school to get my degree in Finance. So looking forward to be able to use my degree.

blue · Posted: Fri Feb 17, 2006 5:07 pm Post subject:

That's great news. Very Happy

So, I hope everything is working fine for you.

Cliff · Posted: Fri Feb 17, 2006 8:50 pm Post subject:

Hey Blue,
Great to see you still posting and giving valuable information to our members. Keep up the great work and see you in the forums. Very Happy

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