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10-05-2005, 01:36 PM
| | Junior Member | | Join Date: Oct 2005
Posts: 1
| | | Mortgage Question - Refinancing
What is the name of your state? VERMONT
My father-in-law's house has my wife's name on the deed but not the mortgage. Is there a way for us to buy the house from him through a home equity or to just buy out the mortgage since her name is on the deed already? We're looking to buy it from him and make him move. He has made life next door unbearable and said if the kids wanted the house then we'd have to buy it.
Thanks |
10-05-2005, 01:42 PM
| | Member | | Join Date: Mar 2002
Posts: 218
| | | Yes you can refinance the home into your wifes name as long as the father-in-law is agreeable and signs the paperwork. A new first mortgage is probably the way to go since 1st mortgage rates are still far better than equity rates.
Your lender and title company will take are of the necessary paperwork.
Make sure to have an agreement drawn up by an attorney so everyones on the same page. |
10-05-2005, 01:45 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,453
| | Quote: |
Originally Posted by mmadore What is the name of your state? VERMONT
My father-in-law's house has my wife's name on the deed but not the mortgage. Is there a way for us to buy the house from him through a home equity or to just buy out the mortgage since her name is on the deed already? We're looking to buy it from him and make him move. He has made life next door unbearable and said if the kids wanted the house then we'd have to buy it.
Thanks |
**A: see a mortgage broker. |
10-05-2005, 01:55 PM
| | Member | | Join Date: Aug 2004
Posts: 71
| | | yes
I like the first reply best. Your wife can refinance because she is on title (if dad will sign off.)
*The Lender may want to see a mortgage/rent payment history for 12 months.
make sure dad agrees to a payoff figure, or getting him to sign off may be tough.
I don't see a need for an attorney (if you can agree to a payoff figure.)
The title company is a third party who will ensure the paper work is closed properly.
Last edited by m martin; 10-05-2005 at 04:35 PM.
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10-05-2005, 02:08 PM
| | Member | | Join Date: Mar 2002
Posts: 218
| | | Brian, while you look great in that blue dress you cannot include your website as it's considered a solicitation. If I can't solicit, either can you. |
10-05-2005, 02:17 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,453
| | Quote: |
Originally Posted by Samm1970 Brian, while you look great in that blue dress you cannot include your website as it's considered a solicitation. If I can't solicit, either can you. |
**A: the word is neither, as in neither can you. But you have a good point; either Brian deletes his url reference in his posts, or he will be deleted. |
10-05-2005, 02:22 PM
| | Member | | Join Date: Mar 2002
Posts: 218
| | | Thanks for the support and the english lesson. |
10-05-2005, 02:35 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,453
| | Quote: |
Originally Posted by Samm1970 Thanks for the support and the english lesson. |
**A: know problim. |
10-05-2005, 02:38 PM
| | Member | | Join Date: Mar 2002
Posts: 218
| | | hee hee hee | |
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