a96sunfire82 asked:


The home is in my fathers name, he moved out into a mobile home and left me and my husband to live in the house. We have been paying the mortgage directly to the mortgage co for the past 3 years. Recently we were going to see if we could by the house. I was told that it would be easier and cheeper to refinance and get it into our name. All we had to do was prove that we were paying the mortgage pymt directly to the lender for the past year. We have this documentation. Is this true. Was wondering if anyone has ever heard of this and if it is really that easy.
I am in Illinois

VICENTE

7 Responses to “Can I refinance a home that is not in my name?”

1. Landlord on January 26th, 2009 6:59 am

   LINWOOD

   No, this would not be true. You need your father to sell it to you. You can’t just up and claim it.

2. DeeDee on January 28th, 2009 10:28 am

   ERIK

   No. You cannot transfer property into your name without the original owner signing a deed over to you. Just paying the mortgage doesn’t mean anything as to ownership. Get your dad to sign a deed over to you and then go refinance.

3. ifs_enoch on January 29th, 2009 3:34 am

   MOHAMMAD

   I don’t think that it can be done if it is not in your name. what you can do is to co-owned it with your father. you need to add your name to the title deed and then the bank will be able to refinance it.

   this is from my experience

4. H mom of 3 on January 29th, 2009 6:44 pm

   BENNIE

   Well you dad would have to do the refinancing and putting the home in your name and you would need to get your dad to sign the house over to you and your husband. If you call them up to talk about refi, they are going to just be like we can’t talk to you. Unfortunately, they will be able to do nothing to help you without your dad signing the house over to you. I pay all the bills for our family and my husband is the only one on everything and I couldn’t call and talk to them about anything about any of our cars, banks, mortgage company, etc…. without my husband and I getting a Power of Attorney, now they have to talk to me and can’t get around it. Good luck and talk to your dad about it. Also right now they have tons of good programs for first time home buyers and you may be able to get a better mortgage if you do buy instead of refi, so make sure to look into all of your options.

5. financing_loans on February 1st, 2009 7:53 pm

   SCOTT

   Oh marty is back with a new name again.

   Marty how many names is this now? 5000. Dont you get you cant spam on this site. Any loan officer that needs this site to get leads has to suck at being a loan officer.

   Now to your question. If the home is FHA you actually can take over the property on a streamline. You dont even have to qualify, just show you have been making they payments for 12 months and that you are living in the property as your primary residence. Your father will just sign a quit claim deed at closing. You can do it as a FHA streamline so you wont have to credit or income qualify.

   Any other loan type. I going to have to say no. You will have to purchase it. Thats the only way I can see it works.

   *update*

   Didnt want to go into full detail its not complicated but complex. You need to find a loan officer that knows what they are doing. Basically your dad adds you to the loan in a streamline (although he doesnt live there it doesnt matter, you are his child). Then you streamline again and take him off. It will require 2 closings. But with rates so low you should be able to do it without it costing you a penny or having your principal balance increase. It only works for FHA. If you are not FHA its a purchase. Or your father could refinance it to FHA add you. Then you just streamline and take him off.

   Its possible but its not as easy as walking into a bank and saying I need to refi my property to get my father off. 99.99% of loan officers will look at you like you are insane. Its a two step process either way.

   Or a 1 step process if you purchase it. Then its a standard purchase. If your credit isnt great or your income doesnt work it could be a 3 step process. 1. Dad gets and FHA loan. 2. Dad streamlines you and adds you and your husband. 3. You streamline it and take dad off.

   That would take 3 closings. Absolutely possible and totally in FHA guidelines.

6. mtglady123 on February 1st, 2009 8:25 pm

   RODOLFO

   First off what state are you in? I do mortgages in Arizona and have done quite a number of refinances for people in your type of situation. I am in the process of doing one now.
   There are still investors (lenders - mortgage companies) out there that do refiances of this type as long as you can prove you have been living in the house and making the payments.
   Contact a broker in your area and they should be able to help you.

7. tampabaycreditdoctor on February 5th, 2009 5:56 am

   CARLO

   Have your father deed the property to you and I would suggest a Warranty Deed be used to accomplish that. (Some title insurance underwriters have a problem with Quit Claim Deeds) Then take your documented mortgage payment paperwork, and do your refinance. It is that easy, but as always owning real property introduces you to the legal and tax community in all dorections.

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