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 JDDGTJ
Joined: 03 Nov 2008
Posts: 1
1.36 Dollars($)
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 Posted: Mon Nov 03, 2008 12:12 pm Post subject: DEED OR TITLE |
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| MY BROTHER IS A 100% V.A. DISABLED VETERAN. HE WANTED TO PURCHASE A NEW HOME. HOWEVER, HIS INCOME WAS NOT ENOUGH TO QUALIFY SO MY HUSBAND AND MYSELF ARE BUYING THE HOME WITH HIM. IN THE STATE OF PA A DISABLED VETERAN CAN GET AN EXEMPTION FROM REAL ESTATE TAXES BECAUSE OF HIS DISABILITY. HOWEVER, THE V.A. SAID HE HAS TO BE THE SOLE OWNER OF THE HOME EVEN THOUGH HE CANNOT LIVE ALONE. IF MY HUSBAND AND MYSELF ARE ON THE MORTGAGE WITH HIM, CAN BE BE LISTED ALONE ON THE TITLE OR THE DEED AT SETTLEMENT OR DO WE HAVE TO WAIT AND FILE FOR A QUITCLAIM DEED LATER? THANK YOU. |
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greg1
Joined: 29 Jan 2008
Posts: 76
Location: Chillicothe, OH
24.38 Dollars($)
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| Posted: Mon Nov 03, 2008 12:50 pm Post subject: |
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This question would be better answered by the lender you do your loan through. Yes you can legally do that but most lenders impose their own policies. Your lender may or may not allow it. Chances are they will.
_________________
Greg Phillips
Mortgage Professional
Web: Home Blog Message Board |
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smithsussane
Joined: 18 Sep 2008
Posts: 4484
Location: Alaska
435.29 Dollars($)
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| Posted: Mon Nov 03, 2008 7:56 pm Post subject: |
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Hi JDDGTJ!
Welcome to forums!
Yes, I think you can do it. But again, I agree with Greg that lenders have their own policies. You can talk to the lender once and then take the decision.
Feel free to ask if you have further queries.
Sussane |
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