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On 4 Jan 2007 20:00:27 -0800, b_russ@yahoo.com wrote:
>
>My friend has agreed to let me buy out their 1/2 interest in our house
>we live in for X dollars. I'll assume sole ownership of the deed and
>mortgage. Currently our names are on both.
>
>Question: Will my mortgage bank (well known national bank) most likely
>allow me to keep the current terms, rates etc. of my mortgage even
>though one person is dropping off the deed and the mortgage?..Or will I
>need to re-qualify? We have a fixed rate loan and a heloc 2nd, with
>about 15% equity. I am hoping I don't need to re-qualify on my own. I would
You should probably ask them, as well as check around with other
lending institutions to see what you can qualify for.
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Re: transfering property deed - mortgage
