Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

transferring loan

Author Message
Icon Mini Profile jiyabo08





Joined: 11 Feb 2009

Posts: 1

1.61 Dollars($)
Post Posted: Wed Feb 11, 2009 3:25 pm    Post subject: transferring loan
Like 0
Dislike 0

I have a problem with my house. My parents-in-law applied for the loan because my husband and I were not yet qualified to apply for the loan 2 years ago. We paid 10% downpayment and are regularly paying the mortgage now. We would like the loan to be transferred to our name and we would like to know our options. Help, please....
Icon Mini Profile vegas_storms





Joined: 12 Sep 2008

Posts: 67

3.54 Dollars($)
Post Posted: Wed Feb 11, 2009 4:20 pm    Post subject:
Like 0
Dislike 0

Sounds like your parents-in-law actually own the house but your making the payments. Looks like you'll need to purchase the property from the in-laws. Did you give the parents the 10% to put down on the house when they bought it?
_________________
Top 100 Mortgage website www.mortgagebreakdown.com
Information given is an opinion, for true legal advice please consult an attorney.
15yrvet

Guest







Post Posted: Wed Feb 11, 2009 5:26 pm    Post subject: Assumption Process
Like 0
Dislike 0

Look into this as I did and did not have to purchase the house. I have a loan with citi and was able to use them today with this process.
amy a

Guest







Post Posted: Thu Feb 12, 2009 6:00 pm    Post subject: about transferring loan
Like 0
Dislike 0

Yes, all the money came from us. We just used them to get the loan approved...
Icon Mini Profile eric1
eric1
Community Expert
Community Expert

best lender badge

Joined: 04 Jan 2009

Posts: 1511

226.89 Dollars($)
Post Posted: Thu Feb 12, 2009 7:09 pm    Post subject:
Like 0
Dislike 0

Please let us know how it turns out.
_________________
Eric JFree Rate Quote, Stated Income Loans
FHA RATE QUOTE
Mortgage Rate Quote
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.112 seconds.