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Mortgage

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sallymaxey Joined: 26 Apr 2011 Posts: 1 1.41 Dollars($)	Posted: Tue Apr 26, 2011 6:15 pm    Post subject: Mortgage Like 0 Dislike 0 My brother recently purchased a house in FL and is quit claiming the property to me. There is $140,000 mortgage. I am taking on the mortgage payments, but how does he transfer the mortgage without me having to refinance?
gunzijjistaff Joined: 07 Apr 2009 Posts: 713 4.63 Dollars($)	Posted: Wed Apr 27, 2011 9:37 am    Post subject: Like 0 Dislike 0 Hi, Welcome to Mortgagefit, as far as i know, there no other option without refinance in order to transfer loan to your name. Refinance will only possible if you eligible with lenders requirements for refinace. Happy to help you Thanks & regards, Gunz.ijjistaff
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Apr 27, 2011 10:11 pm    Post subject: Like 0 Dislike 0 Hi sallymaxey, Unless you refinance the mortgage, it won't be transferred in your name. Nevertheless, you can ask your lender for novation but it will depend upon the lender's discretion whether or not he will agree to it. Thanks

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