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sega4140

Junior Member
What is the name of your state? Virginia

Hello,

I have a sister that wants to buy a home. Unfortunately, her credit is not good enough to get the home for 100% financing. Her husband told me, "If you put her name on the title, you can refinance the home after 3 months and your name be off the loan." Is this true? All I'm doing is using my good credit for them to get a home, but will I be liable for the loan after I refinance and the names transfered?

Thanks in advance
 


HomeGuru

Senior Member
sega4140 said:
What is the name of your state? Virginia

Hello,

I have a sister that wants to buy a home. Unfortunately, her credit is not good enough to get the home for 100% financing. Her husband told me, "If you put her name on the title, you can refinance the home after 3 months and your name be off the loan." Is this true?


**A: it may be true if Sis wins the lottery, but even so, who is going to pay the associated closing and refi costs?

**********
All I'm doing is using my good credit for them to get a home, but will I be liable for the loan after I refinance and the names transfered?

**A: if Sis can't qualify now she willl ikely not qualify in 5 months.

******

Thanks in advance
**A: any other bright ideas?
 

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