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My mom cant afford to make her mortage payment. She is 4 months behind. I plan on making her loan current. But is there anyway i can be put on the deed since I will be making the payments and not her. Her house will go into foreclosurer if I don't bring her to current statis. What is a quitdeed?

jameshogg · Posted: Mon Jun 27, 2011 11:40 pm Post subject:

Hi sunshine,

A quitclaim deed is a legal document transferring real estate property from one person to another. Your mother can use a quitclaim deed in order to add your name to the property deed. She should contact a real estate attorney and he will draft the deed for her.

Thanks

chrisgummerson · Posted: Tue Jun 28, 2011 9:31 am Post subject:

If you are planning on taking over the property in the long run, having your self added to title from your mother, will help you establish vested interest in the property. If you continue to make mortgage payments and pay taxes, with cancelled checks and being on title, you would be able to refinance the loan into your name. Good luck

raymond · Posted: Tue Jun 28, 2011 9:10 pm Post subject:

You need to receive permission from the Lender prior to revising Title. If you don't, and the Lender finds out, they can invoke the due-on-sale clause in your note.

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