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chloejoanna · Joined: 20 May 2008 Posts: 37 16.09 Dollars($)

Is it possible to release equity from a property without sale or deed transfer? My mother owns a house which i am due to inherit when she passes. However as i am looking to get on the property ladder myself within the next few years we have spoken about realeasing equity from my mothers house to help me with a deposit. Can anyone help me understand how this works and what implications this would have on the house. (Mother currently still paying mortgage though it is possible she may have completed payments by the time we come to this?)

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi chloejoanna.

I think you can go for cash out refinance to get the equity of the home even without selling the property. Know more about cash out refinance at http://www.mortgagefit.com/cash-refinance.html

Best of luck,
Larry

Niicss · Posted: Mon Jun 16, 2008 2:08 am Post subject:

Welcome chloejoanna.

I feel your mother can release the equity from the property through reverse mortgage if she is 62 years old or above. You must hear about this program. This is a loan against your home equity. You can get it on a monthly basis or get a lump some amount at a time. But you need to pay back the loan. To know more about reverse mortgage just have a look at http://www.mortgagefit.com/reverse.html

Hope this helps.

Good luck.

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