properrty transfer

ebaybiz · Joined: 30 Jun 2008 Posts: 1 1.29 Dollars($)

hello, my father in law wants to transfer his house in my name because i am talikng careof all mortgage payments and taxes fees from purchasing to now. please advise whats the best way to transfer house and mortgage in my name.

smckaybiz · Posted: Mon Jun 30, 2008 6:50 pm Post subject:

Hi ebaybiz,

Unfortunately there is no real way to just transfer a mortgage from one person to another. You'll have to look into taking a mortgage out in your own name and purchase it from him. If you are currently paying all of the taxes and insurance costs seperately than you might be able to just take out a second mortgage loan to purchase the house. This may save you a lot of money in closing costs. I'm sure someone else will come around to let you know what your best option may be.

Good Luck!

brian1 · Posted: Mon Jun 30, 2008 9:54 pm Post subject:

Unless your fathers loan has an assumable clause and you qualify you cant transfer the mortgage and will have t finance it into your name.
The deed is fairly simple.

Good Luck
Brian

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