Posted on: 01st Oct, 2009 09:53 am
I still have a mortgage on my house but I want to sign a quitclaim deed to give the ownership o my daughter. Can I do that without put her name on the mortgage? Does the bank need to be notified.I'll be still making the payment to the mortgage co.
you can make her coowner by signing a quit claim deed.
if you are thinking to give 100% ownership to her, bank will immediately ask your doughter to refinance the mortgage.
if you are thinking to give 100% ownership to her, bank will immediately ask your doughter to refinance the mortgage.
100% ownership can be achived by using refinance option.
Can I gave her 90% and me 10% in the quitcalim dead and we can avoid refinancing.
Hi melbouez!
Welcome to forums!
If your name is still on the property deed, then you may avoid refinancing. However, it would be better if you could inform the lender about this property transfer. In case, if the lender has any issues, he may let you know immediately.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your name is still on the property deed, then you may avoid refinancing. However, it would be better if you could inform the lender about this property transfer. In case, if the lender has any issues, he may let you know immediately.
Feel free to ask if you've further queries.
Sussane
I will suggest you to talk with lender regarding that.
That will help you.
That will help you.
bank will definetly ask to refinance as she will be coowner