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About Denise Monaco
Expertise
I can answer questions about home mortgage financing, the difference between a mortgage banker and a mortgage broker, fees involved in purchasing a home and refinancing a home or obtaining a home equity loan and the difference between a 1st & 2nd mortgage and the option to have PMI (Private Mortgage Insurance) Jumbo loans, conforming and non-conforming loans.

Experience
I have been a closer, processor and operations manager and currently a account executive for a national mortgage banking company. I have been in the field for 25 years.

Education/Credentials
Real Estate License & 25 years field experience with many national mortgage banking companies.

Awards and Honors
Top sales person, employee of the month, highest sales award

Past/Present Clients
personal home buyers

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

Real Estate Home Mortgages - Adding name to title

Expert: Denise Monaco - 6/9/2009

Question
Hi, my girlfriend bought a home that I lived in, starting in 1993. In 1994 she said she needed funds and was thinking of selling but we agreed that if I paid her $25k over a 2-year period (to reimburse her down payment) she'd keep the house and I'd become a 50% owner. It's 15 years later, there is still a mortgage, and I wanted to have her add my name to the title, but she says that it could jeopardize her mortgage. Is there a simple way to add me to the title or come up with a contract that will legally protect my interest? The relationship is positive.

Thanks!

Answer
Hi Destin

It is very east to add your name to the house by just adding you to the deed which would put your name on the title only. She would still be responsible for the mortgage payments. If you want to be on the mortgage she would need to refinance the house and add you to the mortgage and then you and she would both be responsible for the mortgage payments. Having your name added to the deed in no way jeopardizes her mortgage.

Good luck and let me know if you have other questions.

Denise

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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