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Refinancing / Transfer Loan
Mortgage Library: Ask a Mortgage Related Question: Answers: Refinancing / Transfer Loan
My mom has a mortgage on our house. But the interest rate is horrible. I was wondering if it is possible to refinance, except for the loan to be in my name. Would this be possible without her 'selling' the house to me? I just would like to simply take over her loan, have it refinanced in my name, using my credit report.
R., the only way to refinance the loan with her selling the house to you is to refinance it in her name while adding you as a co-borrower. The two of you together would qualify using the credit score of the primary borrower (whoever makes more money).
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