Compare Mortgage Quotes

grassvallygal · Joined: 21 Sep 2009 Posts: 1 1.45 Dollars($)

Our home is in a family member's name because of my really lousy credit. (mostly medical bills that were paid 80% by insurance). We paid the downpayment and paid all mortgage payments. We all (family member, husband and self) want to get the house out of the family member's name and into ours, but we don't have a clue how to begin. There is an FHA mortgage on the house that is over two years old that is solely in the family member's name. We need to leave the mortgage as is. How can this be done?
To complicate matters, our mortgage was sold to Taylor Bean Whitaker a few months after it originated, and they are belly up. Our last two mortgage payments are in limbo and we have little or no time to get this fixed before it impacts my dad's credit report. We really need some solid advise! Any direction on how to proceed is gratefully accepted.

chrisburns · Posted: Mon Sep 21, 2009 3:43 pm Post subject:

I'm slightly confused by the question, because I'm not sure if Dad is the family member with the mortgage?

Basically the person who's name the mortgage is in... MUST remain on title. He can add additional people to the title if he choses.

Guest

Yes, dad is the family member, didn't mean to be confusing. He is in his late 70's, in great health but he wants to be sure that if anything happens, that we don't lose the house.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

He can do a quit claim deed and add all your name to the property

Also he can have a will and make sure to mentine that every one has equal share

But after him, some one still need ot pay the mortgage, if it is not paid in full by that time

chrisburns · Posted: Tue Sep 22, 2009 7:18 am Post subject:

Okay so he can either add those to title that he wishes to protect, or he can be sure to leave a detailed will that spells out how the succession of the home will be handled after he passes.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

How do we transfer ownership without changing the mortgage.