Question by White Lady: Will it work if my name is in the mortgage instead of my relative?
I have a relative that wants to take over my mortgage but she cannot get approved for a loan because she have a low fico score. I want to help her out, that’s why I want to find out if it’s ok to transfer the title to her name and I remain on the mortgage. Will it work if we do that? What’s the best way for us?
Best answer:
Answer by spnkitman
No, do not transfer the name, have her sign a lease to buy agreement and let her rent from you to cover the mortgage and other taxes and expenses. When the mortgage is paid off then you can transfer to this persons name.
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