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Father wants to add us to deed & mortgage.

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jkinsell Joined: 05 May 2009 Posts: 1 1.29 Dollars($)	Posted: Tue May 05, 2009 9:53 am    Post subject: Father wants to add us to deed & mortgage. My family and my wife's parents live together in a legal mother daughter in New York State. My father in- law is getting on and wants to add us on the deed as well as the mortgage. We (my wife and I) have been making the payments and my father in law cannot take advantage of the tax deduction(small fixed income). Can we do this without refi?
adonis Joined: 22 Oct 2005 Posts: 6712 Location: ALASKA 548.02 Dollars($)	Posted: Tue May 05, 2009 10:11 pm    Post subject: Hi jkinsell, In order to add your name to the mortgage, you will have to refinance it. As you'll become co-borrower of the loan, the lender will check your credit and income in order to qualify you for the loan. As far as the property deed is concerned, your father-in-law can sign a quitclaim deed and add your name to the property. _________________ Procrastination is the enemy of your financial success

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