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what other options are there for a non assumable mortgage? My mother deeded her house to me. She owes 44k still on a non assumable mortgage.

laphillips's picture
laphillips | Joined: May 10, 2008 08:33 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

What was the purpose in transferring title to you? Is she in poor health or having trouble meeting the payments? What kind of options are you hoping for?

Like | Dislike | Share | Posted: Sat, 08/09/2008 - 12:00 | Post subject:

larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Smth.

Welcome to the forum.

If the mortgage is a non-assumable then you should [url=http://www.mortgagefit.com/refinance.html]refinance[/url] the mortgage on your name so that your mother is free from the mortgage liabilities. So talk to your lender and see whether you can get approve to refinance the loan. If your lender don't approve then you can shop for other lenders too :)

Feel free to ask if you have any further questions.

Best of luck,
Larry

Like | Dislike | Share | Posted: Mon, 08/11/2008 - 04:29 | Post subject:

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