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maria0958 · Joined: 24 Jun 2008 Posts: 1 1.31 Dollars($)

My father passed away six years ago. We still pay the loan but it is not in my name. My name is on the deed. Can I have my name added to the loan?

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

Hi maria.

Welcome to the forum.

I think you should contact with the lender ASAP. Have you informed the lender about your father death? If you don't inform the lender then it may be considered as a fraudulent conveyance.

I think the lender will ask you to refinance the mortgage on you name as you are now the owner of the property.

Feel free to ask if you have any further questions.

Best of luck,
Larry

gmakerley · Posted: Tue Jun 24, 2008 7:17 am Post subject:

larry, please don't scare maria. it's really not a fraudulent conveyance, as there has been no conveyance. not only that, but maria has been making payments in good faith; which is what the lender is looking for to begin with.

maria, you are not at all likely to have your name added to the loan note, as signing on a note is a one-time occurrence. i agree with larry that you need to have a conversation with the lender, in order to determine what it is that they'll require. if they are nice and local, etc., they might just agree to allow you to continue making payments until the mortgage is paid off.

as larry also pointed out, though; they may ask you to refinance the existing loan into a new one. that, of course, can be done with any lender, so don't be coerced into a deal with the existing lender if you find a better deal elsewhere.

the key at this time is contacting that lender to see what is required of you.

john6 · Joined: 23 Jun 2008 Posts: 36 17.36 Dollars($)

if you can prove vested interest in the property (bills in your name etc etc etc) then you may be able to refinance with fha giving them sufficient evidence of the particular layout of your question. I know i have done loans like this but ever since the subprime collapse its a little bit trickier so i would call an fha place first to see if they will take your letters of explanation to get the home. of course your going to have to qaulify for the loan i believe and if not they will allow a cosigner depending on the state you live in.

good luck

smaildaytoday · Joined: 15 Oct 2007 Posts: 52 0.00 Dollars($)

I agree with gmakerley. You need to contact the lender.

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Adding name to loan.