They want to change my deed.

What is the name of your state? Florida

I am refinancing my home for a lower interest rate and cash out. I am only refinancing for about 40% of the value so that I can keep 60% equity.

The mortgage company wants me to put my daughter on the deed because she is co-signing on the refinance loan. Can they make me do this?

My income is low but it is quite enough for me, since I am simi-retired due to disabilities. My grown children (who live with me) help me with the bills and the mortgage payments.

The mortgage company wants me to use my daughter's income (added to mine) to qualify for the refinance, but they say I must also put her on my deed. This would cause no end to chaos and resentment amoung my other children, who also help to pay the bills and the mortgage.

Help!

[HomeGuru]

[quote]Originally posted by refinancingdaze
[b]What is the name of your state? Florida

I am refinancing my home for a lower interest rate and cash out. I am only refinancing for about 40% of the value so that I can keep 60% equity.

**A: why not do a rate and term refi without using your daughter?
***********

The mortgage company wants me to put my daughter on the deed because she is co-signing on the refinance loan. Can they make me do this?

**A: yes.
***************

My income is low but it is quite enough for me, since I am simi-retired due to disabilities. My grown children (who live with me) help me with the bills and the mortgage payments.

The mortgage company wants me to use my daughter's income (added to mine) to qualify for the refinance, but they say I must also put her on my deed. This would cause no end to chaos and resentment amoung my other children, who also help to pay the bills and the mortgage.

Help!

**A: then put all your childrens names on the deed.

Then I guess I will have no choice then if I want to use that mortgage company and use my daughter's income to qualify. Another mortgage company that I am working with has not said that they want her on the title, so maybe I will go with them instead, because my children would be fighting over the property even before my demise if I were to put all their names on the title. I want to keep it in my name alone because it is part of my retirement investment and I may choose to sell it later on.

[HomeGuru]

The you need to refi without involvement of any of your children.

Is that the only way that I can keep it in my name alone?

[HomeGuru]

Check with a mortgage broker.