You can add your daughter to the property deed by signing a quitclaim deed. However, there are chances that the lender may want both of you to refinance the mortgage so that both of you become liable for the mortgage payments. _________________ Procrastination is the enemy of your financial success
Posted: Fri Jul 03, 2009 9:40 pm Post subject: Reply
Hi MARGE ,
Welcome to our forum.
Yes, You can sign a Quite Claim Deed to transfer the property to your son.
As you say still you paying to lender that means house still on loan so you must have to inform to lender about this, And he may have to refinance mortgage on your both's names if you both able to pay further payments to lender.
Thanks & Regards,
gunz.ijjistaff.
lol:
_____________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure.
you can do it but inform yound lender about it. they may ask you to refinance loan mentioning her name as well.
habib kamlesh Guest
Posted: Sat Jul 04, 2009 4:16 pm Post subject: quit claim to a wife
just curious, wanting to purchase a home but only in my wifes name not my own. If i purchase a home but she is unable to quailfy for the loan on her own if i purchase it in my name and then quitclaim it to her but stay on he mortgage since I will be paying it off anyways and then get a lien or sued for whatever reason on me is it considered fraudulent transfer
I was in the same situation, as the daughter. We wern't required to refinance. What happened in our situation is my mom refinanced first, for the "purchase price," and then we went to city hall to sign the quitclaim deed. We wern't required to refinance in my name, as I was not able to prove I was able to afford the payments on my own. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
MARGE
