Compare Mortgage Quotes

campergirl50 · Joined: 22 Jul 2009 Posts: 1 1.31 Dollars($)

how does this work, and will I be a legal owner of the property

tigerfamous · Joined: 11 Jul 2009 Posts: 57 6.76 Dollars($)

what is your question?

You can claim the interest of the property if your name is on the title. Is your name on the title?

Guest

I have a client that wants a family memebr to refinance her property. What is the easiest way. Is it to deed the property over and then refinance. How long does this take or is there an easier and quicker process

jenkin7 · Posted: Fri Oct 23, 2009 1:04 am Post subject:

Hi Enrique,

If your client wants to get his/her name off the loan, the best possible way is a refinance. It will release him/her completely from the liability of the mortgage loan. He/she can deed over the property to the family member once he refinances the loan in his name. There is no need to deed over the title prior to the refinance. The property transfer and the refinance can take place simultaneously.

Hi campergirl,

In a non-qualifying assumption, you do not have to go through the entire process of the mortgage qualification like credit, income check etc. You can assume the mortgage, even though you do not qualify for the mortgage. But given the current market scenario, I doubt if any lender would want to let you assume the loan, in case you do not qualify for it. As far as the ownership is concerned, you need to have your name added to the title. Assuming the loan does not give you any ownership rights to the property.

Guest

if i am appointed POA, CAN can i use their real property as collateral for a mortgage for the POA, and if so who credit will lender use and who's responsible to repay, even if i give the funds to the owner?

jerry · Posted: Mon Apr 04, 2011 2:24 am Post subject:

Hi calvin,

If your name is not mentioned on the property deed, then you won't be able to use it as a collateral for a mortgage. You should get the property transferred in your name and then take out a mortgage on it.

Thanks,

Jerry

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

non qualifying assumption