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cbr · Joined: 02 Jul 2007 Posts: 1 1.33 Dollars($)

I am buying into my girlfriends house. She just resently claimed bankrupty. What is the best way for my to become a 50/50 owner of the house and property? We did not want to refinance because of her bankrupcy, but I have good credit.

blue · Posted: Mon Jul 02, 2007 6:16 pm Post subject:

Hi Cbr,

Welcome to Mortgagefit discussion board.

A quit claim deed can be used for the purpose of making you co-owner along with your girl friend. As presently she owns the house, on the deed she would be named as the grantor and you would be the grantee, the person receiving property interest.

You should also talk with the mortgage company about it as there will be a change in the way title will be held from the time mortgage was taken. And if they ask for the mortgage to be refinanced then you can go ahead as you do have good credit and won't face any problem.

Do let me know if you have any other questions.

Thanks
Blue

kenstampe · Posted: Mon Jul 02, 2007 9:30 pm Post subject:

cbr,

Perhaps because I'm just curious but why are you buying into your girlfriend's house? Sometimes the "why" behind doing things is essential for mortgage professionals to give you accurate advice.

Ken

jenkin7 · Posted: Tue Jul 03, 2007 4:44 am Post subject:

Hello cbr,

As your girlfriend has recently claimed bankruptcy, why do you want to have a 50/50 ownership of that property? If you have ownership rights for a property which is under bankruptcy, it would have a detrimental effect on your credit score. So you need to think on this issue before you proceed

Guest

i agree with jenkin7, why would you want 50/50? your credit will be tremendously affected.

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buying into girlfriends house