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My grandmother and I bought a house last month. My grandmother has lived with me for the last year. She bought the house "with me" so that I could qualify for the loan. My grandmother is 89. I am the one that pays the mortgage. I am trying to find the best way to make sure that I can keep my house in the event something happen to her. I understand that I may have to spend a lot in probabate for a will. Also, I heard that medicare may try and get money from the house if she is on the deed. I was wondering if the mortgage can stay in both our names is she is taken off the deed. If she does a quick claim will that jeopardize my mortgage?

jameshogg · Posted: Wed Sep 21, 2011 7:44 pm Post subject:

Welcome jenniferdoe,

If your grandmother signs a quitclaim deed and transfers the property to you, then there are chances that the lender will ask you to refinance the mortgage solely in your name. It will be better if she could name you as the beneficiary in the will.

Thanks

sabrinatoss · Posted: Wed Sep 21, 2011 9:39 pm Post subject:

Hello jennifer?

The grantor of a quitclaim deed does not represent that he or she has any interest whatever in the property for which the deed was given—merely that whatever interest is had may be conveyed to the grantee.

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