I own an investment property in NY, can I add her to the mortgage so that she can later refinance it to her primary residence? by JStatham from Willow Springs, Illinois. Jan 18th 2013
You can add her to the deed.. But if you remove yourself from the deed, it can trigger the "Due on Sale" clause... You can also sell her the home, and if she can get approved, she can finance it in her own name.. But you cannot just "add" her to the mortgage... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Best plan of action would be to execute a Lease to Own and place her on the Deed. After 12 months of good payment history she would be able to refinance into her name only. She would need 12 months of cancelled checks showing the good payment history. I hope that helps.
Good Afternoon. I would be happy to look this over with you. I need a copy of your Mortgage & Note from your last financing transaction. I am confident we can figure something out to reach your goals. We can Lend in all 50 States!
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