Many lenders will not allow a relative to purchase the home of a family member. If you can find a lender that would allow it after you have explained what you want to achieve, the home would still need to appraise for the contract amount. I would just call your lender and ask if they would permit it. If you don't have a lender in mind...call Troy Meeks with Alpha mortgage. Troy is located off Fairview Road in South Park. It's probably worth asking about.
Scott A. Pridemore... more