Real Estate & Mortgage Forum Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length
February 08, 2012, 05:25:41 AM *
News: Welcome to the new members to the Mortgage help forum.
 
   Home   Help Search Login Register  
Mortgage Forum: Signatures Allow ( Please No Spam) - Only mortgage related topics Allow (Non-Mortgage Posts ONLY in Say Anything Thread) - SEO and Marketing Advice for Mortgage Consultants - Report Spam by sending a pm to ADMIN
Pages: [1]
  Print  
Author Topic: How can I add my sons name to my home mortgage?  (Read 5803 times)
Jackson C
Newbie
*

Karma: 0
Posts: 5
Referrals: 0


View Profile
« on: August 09, 2009, 12:03:09 AM »

If something should happen to me I want him to be able to stay in the home and continue making the mortgage payments. He has been living in the home for the past 3 years and making the payments. I was told I can only make him executor of my estate, but that doesn't do what I want.

johnnyloans
Full Member
***

Karma: 1
Posts: 147
Referrals: 1


Mortgage For You


View Profile WWW
« Reply #1 on: August 16, 2009, 09:53:31 AM »

You add him to the mortgage by novation of the original contract. You add him to title by deed. You pass it to him at your death by trust or will.

www.palmdalemortgageguide.com
At Your Service
310 346 1040
Ann
Moderator
Full Member
*****

Karma: 0
Posts: 164
Referrals: 5


View Profile
« Reply #2 on: August 16, 2009, 02:50:37 PM »

Yes, you can just add him to the deed by using a quit claim deed, which can be purchase at millerdavis.com. They have all types of legal forms that RE lawyers and title co use. If you need help filling it out, you can just as a closer at your local title co or most Realtors will know how to fill it out.
Amy
Newbie
*

Karma: 0
Posts: 15
Referrals: 1


View Profile
« Reply #3 on: October 20, 2009, 05:57:46 PM »

You add him to the mortgage by novation of the original contract. You add him to title by deed. You pass it to him at your death by trust or will.

That pretty much covers all your bases. Good post johnnyloans!

Voyage Home Loans
Newbie
*

Karma: 0
Posts: 2
Referrals: 0


View Profile
« Reply #4 on: November 18, 2009, 10:11:35 AM »

I believe you can add your son to the title without having to refinance. But if you want him added to the mortgage meaning your son will have equal responsibility over the loan you will have to refinance. That's the way I have always done it. If there is another way someone fill me in as well.

Sam
Voyage Home Loans
Balda
Newbie
*

Karma: 0
Posts: 9
Referrals: 0


View Profile
« Reply #5 on: October 25, 2011, 12:49:23 PM »

I think that you should not add them.

Orimark
Newbie
*

Karma: 0
Posts: 4
Referrals: 0



View Profile WWW
« Reply #6 on: November 07, 2011, 03:20:51 AM »

Yes, I truly agree with Johnnyloans,

You can add him to the mortgage by novation of the original contract or You can add him to title by deed.........

I think it is one of the best way to solve your problem.

Thanks
http://www.orimarkproperties.com/


Katty
Full Member
***

Karma: 0
Posts: 126
Referrals: 0


View Profile WWW
« Reply #7 on: December 02, 2011, 06:01:27 AM »

You cannot just "add" someone to a mortgage. You will probably have to re-finance. If you did this:
You would not be able to claim all the mortgage interest deduction, your son would have to claim a part of it.

jass
Jr. Member
**

Karma: 0
Posts: 84
Referrals: 0


View Profile WWW
« Reply #8 on: January 06, 2012, 04:38:52 AM »

I think you will consult with Agent.I think Agent will solve your problem.....

Pages: [1]
  Print  
 
Jump to:  

mortgage forum
Powered by MySQL Powered by PHP Powered by SMF 1.1.10 | SMF © 2006-2009, Simple Machines LLC
SMFAds for Free Forums
SMFAds for Free Forums | Sitemap
Valid XHTML 1.0! Valid CSS!