Posted on: 06th Jun, 2012 06:28 pm
I am coming close to foreclosure. I am ready to move on and give my house to my daugher and husband. Before they were married her husband filed bankruptcy 3 years ago. What is the best alternative to transferring my house to my daughter?
Hi crv!
Welcome to forums!
You can use a quitclaim deed in order to transfer the property to your daughter. However, if the foreclosure proceedings have already started, then it won't be a good option to transfer the property. The lender may consider this as illegal and may take legal actions against you.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can use a quitclaim deed in order to transfer the property to your daughter. However, if the foreclosure proceedings have already started, then it won't be a good option to transfer the property. The lender may consider this as illegal and may take legal actions against you.
Feel free to ask if you've further queries.
Sussane
If your daughter has a BK 3 years ago, from discharge date, you may be able to get her into an FHA loan. Then negotiate with your lender for a short sale and have your daughter purchase the home. Your lender may or may not accept it since its arms length, but if you can document that you will not live there, you may be able to get the banks approval.
