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morgage

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cem504@comcast.net Guest 0.10 Dollars($)	Posted: Fri Aug 01, 2008 10:18 am    Post subject: morgage I have a morgage on my home. I want to put my kids name on the deed in case I die. Do the kids have to pay off the mortgage in order to put their name on the deed? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
larry Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)	Posted: Sat Aug 02, 2008 2:42 am    Post subject: Hi Guest. Welcome to the forum. I think you have the property in mortgage. So if you quitclaim to your kinds then they will have to refinance the mortgage on their name. Otherwise the lender may demand for repayment of the outstanding loan balance according to the Due-on-Sale clause Feel free to ask if you have any further questions. Best of luck, Larry
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 1427 Location: bloomfield, ct 60.00 Dollars($)	Posted: Sat Aug 02, 2008 4:51 am    Post subject: it occurs to me that the easiest way to ensure that your children will inherit your home in the event of your death is to insert that into a will. you ought to engage an attorney to discuss this. _________________ George M. Akerley Senior Loan Officer Freedom Mortgage Corporation 37 Jerome Avenue Bloomfield, CT 06002 860-286-0444

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