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mrshoosik · Joined: 03 Oct 2009 Posts: 1 1.37 Dollars($)

My in laws bought a home 6 years ago for my husband and I because we had credit issues. The down payment of the home came from my husband inheritance from his grandma. We make the monthly payments every month and also maintain the upkeep and repairs. What can we do to get on the loan so that we have an interest in the property. We are still working on the credit issue and with the state of loans right now I'm sure we won't qualify for a loan. Please give me any options that may be available. Can we go on the title, and if so can we right the interest off on our taxes. Can they transfer the deed...any help would be appreciated.

Thanks

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

Gettign on the loan willnot make you the owner of the property

so to get your name on the property ask you inlaws to doa a Quit claim deedand add both of yoru name alogn with thier name on the deed

To get on the loan, check with the banks for requirments for addign your name on the loan

if your credit is still bad, then it may be diffcult to get on the loan depnding on how bad it is now

greggwyburn · Joined: 13 Sep 2009 Posts: 60 0.00 Dollars($)

mrshoosik,

to become owner, your name needs to be on deed. it can be done using Quit claim deed.

since your score is not good, will be difficult for you to get mortgage. min 620 credit score is requd for fha loan.

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Title tranfer/loan modification