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Asked 09/16/2009 11:52 am CT (Baltimore, MD)

SOMEONE PLEASE HELP.......My great grandparents own the home that my grandparents currenly live in. My grandparents name has never been added to the deed. My great grandparents have been dead for over 30 years now. How do my grandparents' add their name to the deed? I'm not sure if there is a will granting them sole ownership. Can they file for an executor of the estate? What can they do?

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The estate/will should say who gets the real estate – if they are mentioned in the will that they ...

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Asked 01/18/2009 09:17 am CT (Bloomington, IL)

My wife and I will finish school in May and then plan to move back to the area where we grew up. We would like to buy a home as soon as we return to the area. The problem is that even if we are fortunate enough to find jobs, we have been told there will be a few hang ups. Apparently the best case scenario (assuming employment) is that we could get into a home a month or so after being back when are able to prove employment/income level with a paystub. We have also been told that a possible situation is that we will be on probation with our new jobs. Because we have to disclose this to the lending agency, this will prevent us from getting a loan until the probabtionary period ends. The loophole to all of this, as I am told, is to use our parents as cosigners, which they are willing to do. Additional information: All parties have good to excellent credit scores and there would be a down payment of at least 10% So the questions are: if we use our parents as cosigners can they come off the loan/title without us having to refinance? If no, will the cost to refinance be such that we are better waiting 4-6 months after returning when we can buy the home on our on, keeping in mind we have to pay rent on a place till then. If we use a cosigner will that prevent us from getting our lowest possible interest rate? If we use a cosigner and disclose to the lender that we plan to remove the cosigner as soon as we can will that prevent us from getting our lowest possible rate. Additional information: All parties have good to excellent credit scores and a down payment of at least 10%

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Hi Chad, As long as you and your wife have jobs you willl not have a problem getting a mortgage p...

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Asked 11/16/2008 01:35 pm CT (Seattle, WA)

I would like to build an Auxarilly Dwelling Unit on my parents property. Zoning laws permit this in my negighboor which is zone for muti family residences. Can I obtain financing for the project without a lien or 2nd mortage place on my parent property. My fico scores are above 750 and one is above 800. I want total responsibility for the loan

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It completely depends on the amount your parents owe on their property compared to what it is worth....

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Asked 11/03/2008 12:57 pm CT (Tulsa, OK)

I signed a quit-claim deed and let my ex husband have the house in our divorce 4 years ago. The divorce decree states that I shall be "held harmless" when it comes to the mortgage My name remains on the mortgage. He rarely makes a house payment on time and has trashed his credit right along with mine. I have defintely been harmed. I am unable to obtain a credit card, a car loan, or any type of loan whatsoever. He only owes $11,000 on the house and it is worth around $150,000. Still yet, with his poor credit and low cash flow (he is self-employed) he says he can not find anyone to refinance the mortgage and release my name; nor does he have the cash to pay it off. He does seem to come up with money when he wants to...e.g. a new Harley Davidson, 2 SUV's, a boat, 2 sea-do's, etc. etc., however, that was before the economy got so bad. My parents have hired an attorney on my behalf and plan to take this matter to the court's in hopes of the issue being resolved. I have researched the matter and am afraid that they might be wasting their hard earned money. Am I completely out of luck, or is there a possibilty this could be resolved somehow? Thank you in advance for any advice you can give me.

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Asked 09/08/2008 01:21 pm CT (Vancouver, British Columbia)

My wife's parents owe us a large sum of money from a shared property here in B.C. My wife's mother has inherited her mothers home in Alabama. The home has a clear title, and we're told it is on the market. We have asked that she talk to a morgage broker about paying us back from the equity in the home, she has informed us that she can't do anything because she is a Canadian, living in Canada. And that the laws won't permit her to access the equity. We are sinking in debt, any information on this would be greatly appreciated. Thank You, Basil.

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Asked 05/12/2008 04:26 pm CT (Lambertville, New Brunswick)

My house mortgage, and title, is in my name, but my husband and I lived in the house for eight months. We have since broken up. I am living with my parents. My lawyer says I can get a court order to get him out, but if I sell the house, we would split the profit. My question is, do I have to sell the house, or can I stay in it, and keep paying the mortgage after he is out?

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Hi KL I am not a lawyer and would refer all questions regarding the matrimonial home to your lawyer...

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Asked 04/17/2008 01:35 pm CT (Bellevue, NE)

my parents left their home to my daughter and i in their will. The title to the home is in my name and her name. She is 13 (a minor). How can I get a mortage or Escrow Account for taxes or anything since she is 13? Or how can I get her name off of the title to the house?

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Asked 02/21/2008 04:15 pm CT (RENTON, WA)

I have been seperated from my wife for 2 years. She is living in the house. When we refinanced 3 years ago the loan was only in my name. Her parents had been making the mortgage payments for her. To help make things easier I signed a quit claim deed to my wife and then she in turned did the same to her parents so they could refiance the property to lower the payments. After 9 months they still hadn't refied. They also always late with the mortgage but kept telling me they were working on it. Now the mortgage is 3 months late and they are now my inlaws and wife are going to let it go into foreclosure. Now I am scrambling because one the mortgage company says I'm responsible for the loan but now my credit is ruined and they also informed me that we did not have their permission to do the quit claiming. However county records are showing my inlaws. I do understand that I am responsible for the loan. What is the resonsiblity of my inlaws? When they did they were aware of an IRS tax lien and a unpaid sewer lien. Are they liable at all? What course can I take here? I'm scrambling to try to sell it but I haven't had any luck. Thanks Tom

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Tom, I am sorry to hear about your troubles. Your situation is very complex, and my best advice is...

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Asked 02/21/2008 01:45 pm CT (arleta, CA)

My Parents have a conv jumbo pay option ARM loan, their payments are $2600-$3000 a month and have an adjustable interest rate which at times has gone up to 8.25%.They have a prepayment penalty which is 6 months advance interest. The loan was for $360,000.00 and it is now $382,000 because they pay the minimum payment.Is there anything that someone can recommend? Thank You

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Alice...Brian is right...another issue is that if they continue to defer interest and home values co...

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Asked 01/27/2008 04:48 pm CT (The Woodlands, TX)

After a nasty divorce in early 2006 and a huge dispute with a loan, that has yet to be resolved, my credit rating is at an all-time low of 518. The dispute with the loan will be resolved and removed from my credit in September 2008. In the meantime, my husband (who has a FICO of 670, because he has new credit - no true negatives) and I have been building a house in Texas that will be ready in late February of this year. We have around 5% to put down (11-12k) on a loan house purchase price of $259,000. Our income combined is $112,000 per year. We both make exactly $45,000 per year, plus his military pension of $12,000 and an additional $10,0000 in yearly income (yearly gift from my parents). We were originally told we could get an FHA loan, even with my credit, and we believed it. Unfortunately, I was naive enough to not check deeply into the FHA loans and the person arranging the loan was from New Jersey and didn't find out that the FHA loan limit in TX was $201,000. Not having $58k for a down payment, this was not an option. Now, with a brand new house looming ready in four weeks, we are desperate. Is there any way we can get a loan for this house with my 518 credit score, his 670, our low down payment and our income???

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Dear Ready to Buy Your Home, I'm was sorry to hear about your experience withthe FHA. I am in D...

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Asked 01/15/2008 07:34 am CT (tuscumbia, AL)

my husbands parents passed , the will was never recorded or witnessed, there were 4 sons, one son wants to buy the estate 2 sons agree can you force a quick claim? 1 son,not the one who wont sign, but 1 son lived in the house for 15 years before the parents died. Has he any rights to the house?

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This is a question better served by an attorney that specializes in estate planning and real estate ...

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Asked 01/08/2008 10:10 am CT (Raleigh, NC)

I have a friend who has filed for bankruptcy due to loss of job and finding employment in another state at a 1/3 cut in pay. They were advised to surrender their house in the other state, with an equity loan, in the bankruptcy. They are currently renting a home here. Now, their parents, who are not physically well, want to sell their home and want my friends to use that money to buy a place that has two homes on it and then take care of them. Is there a mortgage company that would consider this. I don't believe the parents want anything to do with the paperwork, or having their name on the property. With the sale of the parents property, they would have about a 50% down payment on a new place. The friend has a good steady job now. Would a bank take the down payment and employment into consideration above the bankruptcy and surrendering the other property?

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Asked 01/05/2008 06:13 pm CT (Batavia, IL)

My elderly parents have a mortgage on a property in FLA. They are about to go into assisted living and might be defaulting on the loan. What are the repercussions?

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Asked 01/02/2008 07:03 pm CT (Los Angeles, CA)

My parents have a house, I have been making payments for 21 years, about 10 years ago i was added to the Grand Deed, because my credit was not too great, they have been wanting for me to change it under my name only, My credit is good now,what are the steps for that?

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Martha, Brian is right...there are a couple of different ways to no put the loan completely in your ...

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Asked 10/31/2007 12:05 pm CT (bladenboro, NC)

My parents are trying to refinance their home. They have run into a problem. Apparently they had originally financed their home with FHA. FHA sold out this loan to another company and this loan has changed hands to about 5 company\\\'s. My parents then got an equity loan with the local credit union to pay the mortgage off. However, now the lein from FHA is still on their Deed and no one will assist them with getting it removed. FHA has been quite rude about the situation as well as the other company\\\'s they have contacted. I asume all they need is a Satifaction statement from \\\"someone\\\" but who and can we require them to do it?

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THe local Credit Union who paid the FHA loan off should have it. If your parents paid it off with th...

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Asked 10/04/2007 02:11 pm CT (LANCASTER, CA)

MY PARENTS OBTAINED A PRIVATE MONEY 2ND.THE SALE DATE WAS 10/1 OF WHICH THE PRIVATE LENDER WAS THERE AND BID ON THE HOUSE(THE 1ST HAS NOT FORECLOSED) SINCE THAT DAY THE PRIVATE LENDER HAS CALLED HARRASSED MY PARENTS, DRIVES BUY THE HOUSE SEVERAL TIMES A DAY AND HAS PUT A FOR SALE BY OWNER SIGN YESTERDAY MORNING. IT WAS TO OUR UNDERSTANDING THAT THE PRIVATE LENDER HAD TO BRING THE 1ST CURRENT TO DO THIS. THE CURRENT LENDER ON THE 1ST HAS NOT BEEN PAID OFF & NO KNOWLEDGE OF WHAT IS GOING ON. THE PRIVATE LENDER HAS VERBALLY GIVEN 10 DAYS FOR MY PARENTS TO VACATE THE PROPERTY. CAN THIS LEGALLY HAPPEN W/OUT DOCUMENTATION OR EVIDENCE THAT SHE IS NOW OWNER OF THE PROPERTY? I KNOW THAT LEGAL PAPERWORK WILL TAKE AT LEAST 30 DAYS OR SO. PLEASE HELP.

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You need to contact your county officials to determine what the procedures & timelines are for forec...

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Asked 07/11/2007 08:05 pm CT (cross, SC)

my husband was hurt and was out of work long time we filed bankrupsy and still got behind a payments on [mobile home] case was cancel my morgage co. demanded a balloon payment of $2700 dollars they agreed after that payment we would work out payment plan monthly,parents help us with that payment,couple days later recieved ph call from morgage co.that our loan had been solded & new morgage co told us that wasnt good enough that they wanted a balloon payment sent IT. my problem is had another phone caLL FROM LENDING Co.again infoming me me contract has been sold again and co wants another $2700 we are tryin been makin monthy payment is doubled ,lender still tells me dont send any more payments they wont accept it and will foreclose on my home anyway tellin me that contract promising me we could make paymentasnt any good because of new lenders we r tryin, can company legally foreclose without even keeping theier end of agreementwe dont want to lose our home and we making payments what rights do we have

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Your situation is too complex for anyone to anwer over the internet. I recommend consulting an atto...

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Asked 06/19/2007 08:14 pm CT (ocean springs, MS)

My parents gave me their property with a life estate on it. Can I take a loan out against that property even though they still live on it?

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Asked 05/10/2007 07:52 pm CT (Greensburg, PA)

My parents are looking to buy my neighbors house. They are going to put their home for sale. My father was injured at work a year ago and is on workers compensation. Will they have trouble getting a new mortgage because his workers comp. can not be counted as income? My mother also has an income, and they would have a large down payment from the sell of their own home.

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Rachel, Give my office a call so we can go over all the options that your parents have available ...

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Asked 05/02/2007 06:59 pm CT (kirkfield, Ontario)

i plan on sellin my home and moving in with my parents . i will be put on the deed. my question is do i have to notify my parents mortgage company and be put on their mortgage. one problem we have at the moment is my parents have no source of income as they are both 64 .

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Most likely not. I'm not sure about Canada, but in the states you cannot be put on the mortgage with...

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