Posted on: 26th Mar, 2009 11:06 am
Hello. I was going to sign my name to the deed of a property and assume the mortgage payments.
That sounds normal. What are you asking?
Hi nadinexwatkins,
Do you want to add your name to the title and assume the mortgage on the property? If this is what you want, you need to get a quitclaim or warranty deed signed by the owner of the property who will sign the deed as grantor. Once you are listed on the title, you can take over the mortgage payments. However, the mortgage needs to be assumable, otherwise the lender might not allow this change in ownership.
However, you need to write about the situation in a bit detail so I can understand the situation better and offer you a suggestion.
Thanks,
Jerry
Do you want to add your name to the title and assume the mortgage on the property? If this is what you want, you need to get a quitclaim or warranty deed signed by the owner of the property who will sign the deed as grantor. Once you are listed on the title, you can take over the mortgage payments. However, the mortgage needs to be assumable, otherwise the lender might not allow this change in ownership.
However, you need to write about the situation in a bit detail so I can understand the situation better and offer you a suggestion.
Thanks,
Jerry