DD, Home Owner in Rockville, MD

Can I add my name to the title of my parents' home for refinancing purposes? Home has no mortgage, only a small equity loan. Any issues with?

Asked by DD, Rockville, MD Mon Nov 21, 2011

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4
Ivan Diaz, Mortgage Broker Or Lender, 79936
Mon Nov 28, 2011
Great answers below, there are definitely options! Certainly cash out is more restrictive to seasoning.

Ivan Diaz
Home Mortgage Consultant
(415) 271- 7740 direct/cell
Idiaz@harbor-lending.com
0 votes
Claudia Mull…, Mortgage Broker Or Lender, Fremont, CA
Mon Nov 21, 2011
You may add your name to title, However, to refinance the home, you will need to have been on title for 12 months AND demonstrate that you have been making the payments on the obligation.
This is a standard FNMA guideline.
0 votes
Gina Odom, Agent, Santa Cruz, CA
Mon Nov 21, 2011
You can quitclaim your name on to the deed. Speak to a tax lawyer to find out the implications.
0 votes
Aaron Brown, Agent, Oakland, CA
Mon Nov 21, 2011
This is easy to do however be ware, the city/county may try and impose a transfer tax. Different municipalities take different actions.
0 votes
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