Can I re-fi a home loan that is in someone elses name if my name is on the deed?
I am on the deed to my parents home. I want to refinance in my name. Currently it is in my mothers name. How would it work? I can afford the payments and want to take over this burden for them. Any suggestions. by albach_288_757 from Carnesville, Georgia. Aug 26th 2011
Deborah Garvin (loanmonarch)
#497 ranked lender in California - 53 contributions
Contact a mortgage professional in your area. You should have no issue as long as you have been on the title for some time. If you were just added to the title that may be problematic. You should be able to make this happen with a little guidance from a professional.
J Martin (jmarr91)
#10 ranked lender in Georgia - 25 contributions
Absolutely! Have you been prequalified and ready to start the process?
Brandon Blue (brandon@bluehomeloans.com)
#514 ranked lender in California - 8 contributions
First things first, since the laws are different in every state, you should consider speaking with a real estate attorney and your accountant. It is possible that transferring title could trigger a hike in real estate taxes on your property. It is probably not necessary to take her off of title, more importantly, you should determine if you qualify to refinance on the property from a financial standpoint, then consider all the legal and tax ramifications from there.Hope this helps!Brandon BlueBlueHomeLoans.com949-291-8468
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