I took over my brothers mortgage, do i need to refinance?

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Icon Mini Profile romansx2




Joined: 22 Sep 2009

Posts: 1

1.30 Dollars($)
PostPosted: Tue Sep 22, 2009 10:28 am    Post subject: I took over my brothers mortgage, do i need to refinance?

I took over my brother's home about 6 months ago. We verbally agreed for me to finish paying it off. he recently refinanced in February of this year 2009. All has gone well except now I want to remodel it and sale it in about 3 years. We never filled out any notarized forms or papers. What are my options just to be able to sell it in 3 years and not have hassels? I thank you all in advance. I am in texas.
Icon Mini Profile sunnyca2009




Joined: 04 Aug 2009

Posts: 1737

36.13 Dollars($)
PostPosted: Sat Sep 26, 2009 8:38 pm    Post subject:

You cna still sell the house in three years wiht this arrangement, but your brother needs to sign on all the papers nce some oen agress to sign it.

But after sellign he gets all the money after paying the remienign losn

So best thign to do would be ask yoru brother to give you a quti claim deed and have owner ship of the property but still continue to make payments on his loan. If possible refinace the laon in yoru name

3 years is a long time, some tiem people change thier mind and you want to protect yoru self from bad situations and also the money you are investing in that house
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