Posted on: 11th May, 2009 07:17 pm
mother put son on deed to her home to avoid probate taxes. son is not on mothers mortgage or home equity loan. now mother wants to refinance w/cash out to pay off credit card bills, is saying son must co-sign refinance since he is listed on deed. if son does this, he is then responsible for the loan, correct? he really doesn't want to sign as he has his own mortgage, kid in college, not much retirement money saved.. what advise can you give?
Hi Guest,
Though the son is on the property deed, the mother can refinance the mortgage in her name alone. I don't think the son needs to cosign for the mortgage.
Thanks
Though the son is on the property deed, the mother can refinance the mortgage in her name alone. I don't think the son needs to cosign for the mortgage.
Thanks