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Add name to deed with a mortgage

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DawnMarie Guest	Posted: Tue Aug 10, 2010 7:16 pm    Post subject: Add name to deed with a mortgage Like 0 Dislike 0 Hi, My mom wants to add me to the deed, but there is a mortgage (in her name only). How does this work in the state of Florida. She has a will leaving the house to me....would the lender demand the loan in full when she passes? Please help!! _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
dipaligopale Joined: 25 May 2010 Posts: 790 22.70 Dollars($)	Posted: Tue Aug 10, 2010 7:47 pm    Post subject: Like 0 Dislike 0 Hi DawnMarie Yes lender will have an objection if considerable equity is transferred to you.Rather this has to be done in consultation with lender before hand. Firstly if you have a good credit & is eligible to co-sign the mortgage then surely there won't be any problem as far as quitclaim deed is concerned it will go smoothly. Regarding your second question about the situation when your mother passes away, at this instance executor of the will be in action and he/she will propose to take over the liability of the mortgage to heirs,if they are not capable to handle this,property will be sold in the market and the remaining amount of mortgage will be paid to the lender. DIPA
DawnMarie Guest	Posted: Tue Aug 10, 2010 8:06 pm    Post subject: Add name to deed with a mortgage Like 0 Dislike 0 Thanks for the info DIPA!

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