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Mortgage

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Guest	Posted: Wed Sep 28, 2011 9:47 am    Post subject: Mortgage Like 0 Dislike 0 what if my husband sister want to get some mortgage out of her name, but it's not paid off? What can we do to get it in our name? We been living there for about 3yrs now
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Wed Sep 28, 2011 7:23 pm    Post subject: Like 0 Dislike 0 Hi Guest, You can refinance the mortgage in your name. This will help you and your husband in transferring the mortgage in your names and release his sister from the liability of paying off the mortgage debt. Thanks
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Wed Sep 28, 2011 8:52 pm    Post subject: Like 0 Dislike 0 Hello guest? The ONLY way to do this is to refinance the loan. The loan was made using two people to qualify and take financial liablilty. It is a legal contract and must be satisfied by a new contract. This can be done by the existing lender or a new lender, but take into consideration that his qualifications will not longer be considered. If he agrees, you can remove him from title (ownership of the home) but this will NOT relieve anyone of any financial responsibilities. Additionally, many lenders have stipulations in the loan documents that prohibits changes to the title of the home. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
petekolackovsky Joined: 14 Sep 2011 Posts: 53 Location: Calgary, AB 247.79 Dollars($)	Posted: Thu Sep 29, 2011 8:50 am    Post subject: Like 0 Dislike 0 Hey guest ! Refinancing a mortgage is exchanging the terms of the loan for new terms. You may swap out the terms if you are financially unstable or cannot make further payments in full. There are many different plans you can choose in order to help you pay back the lenders investment, including changing the name on the mortgage. Another option could be to extend your mortgage to lower your monthly payment and make it more affordable. Hope this helped you out ! Best Regards! [External link deactivated as per forum rules. Thanks.] _________________ Pete Kolackovsky Mortgage Consultant http://www.mortgage-calgary.com

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