Hello we have inherited two homes from a family member. Each has a small mortgage. We also have a home with a mortgage. One of the properties is currently a rental that pays for itself the other we plan to move into. Ours we would rent out. What are the best options to refinance the two inherited homes to get them in our name? by bethie_713_640 from Camden, Ohio. Sep 8th 2011
How long have you owned these two properties? They will both be considered as rental properties since you are not going to live in them. How are the mortgage history on the properties?
Hello,I'm sorry for your loss.You have several options. There are a few questions that must be answered to give you the most accurate answer. Is it your intent to keep all of these homes? Are they in the same state you live in? What is the value of the homes and what do you owe on them. There are a few more questions that we would address; however, these are some of the first and most important.My name is Katherine, you can reach me toll free at 877-362-9090 ext 79 or direct at 614-588-0201. I look forward to helping you. Have a great day!
Bethie, I see a number of answers already. The estate will take care of transfering the properties to your name. YOu could leave the current mortgage as they are right now, provided you continue to make the payments and the lenders do not object.
Ask our community a question.