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03-20-2011, 01:23 PM
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Can you transfer a mortgage in to someone...
...elses name. (say your son) with out penlety? I want to sell my home to my son but with the market the way it is at this time it wont appraise for the correct value. But maybe I could transfer the current mortgage in his name. I am not living in the home at this time due to my handicap. The home was not large enough for my wheel chair. I can not keep the home or mortgage in my name because I need to build or purchase a new home that is better fit for me and my handicap.
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03-20-2011, 05:04 PM
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your mortagag is a debt owed to the lender secured by your real propertythey might not like it if you say to them, "I'm not going to pay this anymore, but this other guy who never signed any agreements with you will be paying instead"
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