Posted on: 09th Jun, 2009 04:09 pm
i lost my house to foreclosure a year and a half ago. i was lucky enough to have my father buy the house. i got information from the mortgage company to add me on the mortgage, but first i need to add my name onto the title. once my name is on the title and then the mortgage, is there anyway to take my father's name off without having to refinance?
hi bgktck,
you can add your name to the title through a quit claim deed. you need to refinance to put your name on the loan and take your fathers name off it. if you have a very good credit and payment history, your lender may allow a novation agreement to add you to the loan and remove your fathers name from it. it is, however, at the lenders discretion if they would allow the novation agreement.
you can add your name to the title through a quit claim deed. you need to refinance to put your name on the loan and take your fathers name off it. if you have a very good credit and payment history, your lender may allow a novation agreement to add you to the loan and remove your fathers name from it. it is, however, at the lenders discretion if they would allow the novation agreement.
What if you have really bad credit and I also lost my house to foreclosure 1.5yrs ago? I am the one that has been making the monthly mortgage payments.
Hi bgktck!
Welcome to forums!
If you have a bad credit and also lost your house to foreclosure, it would be difficult for you to add your name to the mortgage. Though you've been making the payments, it would be difficult for you to refinance the mortgage and add your name to it before 2-3 years.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If you have a bad credit and also lost your house to foreclosure, it would be difficult for you to add your name to the mortgage. Though you've been making the payments, it would be difficult for you to refinance the mortgage and add your name to it before 2-3 years.
Feel free to ask if you have further queries.
Sussane