Refinancing Home Mortgage
In: Mortgage Lending
28 Oct 2010need your input and know-how always contact a second mortgage?
I own a house with my sister (50/50) and I want out, but my sister can not afford me free now, and we do not want that now house prices are low to sell. I intend to buy another house for me, (I have a down payment) live, but the problem is, I can not seem to get a new mortgage without my name from the existing one. The problem is that my sister is separated but not legally. There is the possibility of relying on her husband’s estate when they start a dispute and if I take my name, would it look like a 50% stake, which it is not obvious. So my name should stay, I will continue to half of the mortgage payments for the existing ownership help to make it easier when we can financially to sell it. I can half the mortgage on the house and fill the existing mortgage on a new property (because half of the existing mortgage and paid me to buy a house soon).
My current lender to whom I spoke yesterday, is not the case, without me come out of their existing mortgages. I have an appointment tomorrow, some (one with the consultant to the real estate agents, mortgage with my bank and 2), but now I’m doing my homework, researching all possible options.
1. If you get a new mortgage to buy it is not you.
2. It has a 50% interest.
3. It would be better to refinance the entire mortgage and get cash for your half of the equity.
4. His “informal” Separation is not a problem. Any request of her husband is given the same, regardless of how you structure the agreement.
What your lender tries to tell you is that you do not any options that you like. Expect to say essentially the same thing for your appointment tomorrow, as you already been told by your current lender.
This is about mortgage information questions.
Comments are closed.