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 gabiomc
Joined: 26 Jun 2011
Posts: 1
1.00 Dollars($)
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smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
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Posted: Mon Jun 27, 2011 7:05 pm Post subject:
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Gabi, you may certainly be added as an owner of the homes, and the typical method by which that would take place is with a quit claim deed. Now, lenders are picky, and they will always look with disapproval when borrowers go ahead and make changes that require lender approval. Changing title is ordinarily going to allow a lender to call a loan due in full on the spot, but in the current economic environment, that's not too likely an outcome.
It's always advisable, in my opinion, to engage the services of an attorney who knows real estate. You'd probably want to find an LGBT attorney as well, given the dramatic differences in law between married couples and non-married couples when it comes to real estate, etc.
You asked about being on the mortgage debts as an obligee. Unless you and she go ahead and seek a new mortgage together once you've transferred ownership, the lender will only consider your partner as the obligated party.
A real estate agent has no reason to be involved in your transaction - only a lawyer with the proper expertise. You've noted your knowledge that there'll be taxes to pay; I suggest you counsel with a tax advisor nevertheless, unless that's where you already acquired your knowledge.
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George M. Akerley
Mortgage Underwriter/Consultant
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