How to Get a Mortgage Put in My Name That I Have Been Paying for Years
If making the mortgage payment on a property that's in another person's name, it's probably in your best interest to add your name to the mortgage. You don't own the property if your name isn't on the mortgage, thus, you can't make decisions regarding the property.
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Instructions
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Discuss transferring or sharing ownership with the existing owner. You can't make changes to a home loan and put the mortgage in your name without consent from the current owner. This person must willingly agree to add your name to the mortgage or give up ownership.
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File the necessary documentation with the city's recorder office. When sharing ownership, the current owner must complete a quit claim deed to modify the previous title and include a signed affidavit stating his wishes to add your name to the mortgage deed.
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Refinance the mortgage to put the loan in your name. If you plan to take full ownership of a property, contact a lender to refinance the existing mortgage loan. Complete an application and provide information pertaining to your annual income and give the lender permission to check your credit history.
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Schedule the mortgage closing and have the previous owner sign a quit claim deed. Once approved for a home loan, sign the mortgage loan documentations to finalize the refinance and put the home loan in your name. If giving up ownership of a property, the previous owner must attend the closing and sign the quit claim deed at this time to transfer ownership and relinquish his rights in the home.
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Tips & Warnings
A minimum credit score of 680 can help you qualify for a mortgage refinance.
