How to change the mortgage and title

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Icon Mini Profile pereztribe





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Post Posted: Mon May 05, 2008 3:14 pm    Post subject: How to change the mortgage and title
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Hi,
The property was bought under my mother's name, because we had bad credit scores. But my husband and I have been paying the mortgage. We would like the property under our name and my mom is all for it, we just don't know how to change over the mortgage and deed. Oh, and I stopped by a title company and the lady at the desk informed me that the quitclaim deed is no longer legal in Texas. Is that true?
Icon Mini Profile jameshogg
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Post Posted: Mon May 05, 2008 9:36 pm    Post subject: RE: quitclaim deed illegal in texas?
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Hi Pereztribe,

Welcome to forums.

I haven't heard anywhere that a quitclaim deed is illegal in Texas. Just for a confirmation, you can contact Joshua Heard, the community attorney (you'll find him at http://www.mortgagefit.com/propertytransfer/index.html) and get the details.

As much as I know, a quitclaim deed is legal in texas and you can use it to transfer property in your name. But is your mom willing to give it away?

To have your name on the loan, you'd have to refinance it into your name along with that of your spouse's name. Or else you may also try out a novation.

This issue has been discussed earlier too. Have a look at a previous discussion on Tranfer of deed and mortgage .

Thanks
Icon Mini Profile larry





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Post Posted: Tue May 06, 2008 6:26 am    Post subject:
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Hi Pereztribe,

I also have not heard anything like this. You can check it out by consulting a lawyer in your locality. I think quitclaim deed is still legal and your mother can quitclaim the property back to you by using a quitclaim deed.

You will have to inform the lender before your mother quitclaims back to you and he may ask you to refinance and take the mortgage on your name so that your mother is released from the mortgage liabilities.

Feel free to ask if you have any further questions.

Best of luck,
Larry
Faith Rue

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Post Posted: Wed Apr 29, 2009 8:14 pm    Post subject: Adding Sibling Name to Title while doing a Modification
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I'm in the middle of Modification on property given to 10 siblings before Mom's death in 2004. I'm the meidator and the business properietor for the property, plus it's my residence. I'm engaged in a modification on loan mortgage which is going into ARM May 1, 2009. Can I add a sibling to my current title as an added critique while this phase is being conducted?
Icon Mini Profile jerry
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Post Posted: Thu Apr 30, 2009 7:34 am    Post subject:
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Hi Faith,

You can add your sibling to the title. But you may have to take permission from the lender before you do that due to a due-on-sale clause on the loan. I'd suggest you to let the modification process go through first, and then add your sibling with your lender's approval.

Thanks,

Jerry
Icon Mini Profile savior70





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Post Posted: Mon May 04, 2009 7:27 am    Post subject:
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Hi

I agree with Jerry. As per the due-on-sale clause on your loan, you will be required to inform the lender of any change in the title. So, you ought to consult your lender before you go ahead with your plan of addidng your sibling to the title.
Icon Mini Profile dilipgagare





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Post Posted: Wed May 06, 2009 6:38 am    Post subject:
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Hi,
You mean changing the names on the title deeds. And Also you are trying to transfer property to your name.So you need to tak with lender & might be need to refinance the loan on your name.Because refinance process includes removing old name and put your name.But before that you need to ask all of this to lender.

I hope you understand .

Thanks
Dilip
ric.ricky@hotmail.co.uk

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Post Posted: Thu Mar 11, 2010 10:02 am    Post subject: transferring title deeds into my wifes name but i m stil res
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can i transfer our home from my name to my wifes name and still pay the mortgage
Icon Mini Profile jenkin7
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Post Posted: Fri Mar 12, 2010 12:55 am    Post subject:
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Hi ricky,

You can transfer the title to the home to your wife's name through a quit claim deed. You can keep paying the mortgage if you want. In case you want her to take over the responsibility of the mortgage completely, she will have to refinance the loan in her name. However, before you transfer the mortgage, you should talk to your lender as he might call the entire loan amount due if you change the title without informing him.
Jean 19

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Post Posted: Thu Oct 28, 2010 6:58 am    Post subject: CHANGE NAME ON HOUSE TITLE
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MY HUSBAND JUST PASSED AWAY. OUR HOUSE IS IN BOTH OUR NAMES. HOW DO I GO ABOUT PUTTING THE HOUSE IN MY NAME. I LIVE IN N Y STATE.
Icon Mini Profile smithsussane
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Post Posted: Fri Oct 29, 2010 1:18 am    Post subject:
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Hi Jean!

Welcome to forums!

You can file an affidavit of heirship at the county recorder's office and get the property transferred in your name.

Feel free to ask if you've further queries.

Sussane
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