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@Pandabear: Your situation is completely different. The only way you can "have nothing to do with this home" is to have your parents refinance/purchase it from you. Same guidelines apply regarding names on title. However, the fact that you took out the mortgage means you are responsible for it and nothing can change that except a purchase or refinance. Simply quit claiming the property to your parents will do nothing to remedy your situation: You give away the house, but keep the debt. Best to you also.
I'm in a similar situation as yours. It's the opposite. I bought my parents's home for them. I would like to give the house to them via quit claim deed. I just wanted to know how things worked out for you. I don't want anything to do with this home.
If my perception is correct with what I think what you want to do, you need to contact a Lender who can quickly qualify you to take out a mortgage in YOUR name and as previous posts indicate ... the mortgage will be for a property that is non-owner occupied by you, because you live in TX. Prior to closing your mortgage, the Lender will need and work with you to make sure there are quit claim deed(s) from your Parents.
Call me if you want to benefit from an offline discussion to the process and your next steps.
You must do a purchase or refinance in order to get the loan in your name only. I assume that the lender has went over all of your requirements and it is their requirement that you wait this amount of time. You can always ask another lender.