 sonotforyou
Joined: 07 Apr 2011
Posts: 1
1.47 Dollars($)
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Posted: Thu Apr 07, 2011 10:14 pm Post subject: Can my husband and I add our names to my fathers deed withou
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Since 2005 my husband and I have been living in a home that is owned by my father.
We have been paying the mortgage that is in my fathers name for the past six years, we have also upgraded many things in the house. All utilities are in my name.
There are major repairs that need to be done to the house (new roof, plumbing, carpeting etc.) but we don't want to risk putting all that money out for a house that is not legally ours.
My father can be a little flakey at times and likes to make idle threats about taking the house back (they are just threats but still aggravating). He also has a new wife that I baarely get along with. He married her after he bought the house and his wife is not on the deed or mortgage.
Anyway my father has agreed to sign whatever is necessary to add me to the deed/title. My question is - Can my husband and I be added to the title/deed without refinancing, or needing a new mortgage? What is the easiest way to do this?
We want to be added to the deed along with my father. I believe it would be a joint tenancy, where if one party dies, their interest goes to the remaining parties.
Money is tight and our credit is not good, so applying for a mortgage is Not an option.
A little background:
The house is located in Philadelphia PA
House was bought with a VA Loan which is currently with Wells Fargo at 8% interest.
We have been late with payments (less than 30 days late) several times.
There is about $32,000 left on the loan, it will be paid off in 2027.
Thank You! |
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