Was there a trust set up or a will stating who receives the home? You may want to speak with an accountant regarding the tax implications if you sell it and when would be the best time. Also, if you wish to refinance, the home is going to have to be in the name of the mortgage applicant. I recommend speaking with your accountant and attorney.
Please let me know if you have any additional questions.
Walter J. Burns
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
You can refi immediately based on your credit scores, debt ratio, employment history, contact a mortgage broker who can assist you securing a loan. His name will need to be removed from title place in family members name who is purchasing the property.
HOWEVER if a family member does not want the home need to place on market immediately however keep the payments current.