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About Jim Hoepf
Expertise
I have a diverse background that allows me to answer questions regarding underwriting, collections and industry changes.

Experience
I have 18 years of experience in the industry. I have an extensive underwriting background that allows me to have a greater understanding of how to properly structure a loan for approval. I have been cohost of the local radio show Real Estate Matters for the last four years. I have owned and operated my own brokerage firm for the last 10 years. Along with originating and underwriting I have also handled mortgage delinquency and the foreclosure process.

Education/Credentials
BS in Business Administration from Bluffton University. I have also participated in numerous underwriting workshops put on by Fannie Mae and lenders in the Phoenix area.

Awards and Honors
Broker of the year for Arizona with Homeside Lending.

You are here: Experts > Shopping > Home Buying/Selling > Real Estate Home Mortgages > Adding a name to existing loan

Real Estate Home Mortgages - Adding a name to existing loan

Expert: Jim Hoepf - 9/22/2008

Question
My mother and I would like to add my name to an existing home mortgage that I pay for. We didn't have the best credit, so we used my mothers' credit to buy our home. However, I pay the mortgage every month. We would like to get my name added to the loan so my own credit score will improve, PLUS since she is getting older, she would like to make sure the loan is in BOTH of our names, should anything happen to her and would allow me to be able to sell the home if necessary.. How do I go about this? Or is this possible WITHOUT refinancing?

Answer
Ann,

Normally it is not possible to add you name to the loan without refinancing. How long have you been making the payments and can you prove that you have been with canceled checks?

If you can prove that you have been making the payments directly to the lender, you may be able to refinance with you Mom as a co-borrower on the loan.

That is probably the only way you can accomplish getting your name on the mortgage. If you would like more help with this, please let me know.

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About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here