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Real Estate: Maryland/Refinancing
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Question
My name is Brad Streight and I live in Odenton,Maryland that's located in Anne Arundel County!Back in 1991,my father bought a townhouse in the Kings Ransom development and my mother was his primary beneficiary but she passed away back in 2000 and my question is,would my father have to refinance his mortgage to add me as his primary beneficiary? In addition,he said he's afraid that Finance Company would raise his Interest,is this true? Sincerely,Brad Streight
Hi Brad,
My apologies for being late to address this. I was out of town for the long holiday weekend. In answer to your question: all you need to do is have an attorney add you to the Deed of the property. You do not need to be added to the mortgage. Just the Deed. There will be some fees from the attorney including recording of the deed in the courthouse once the amended deed is prepared and you and your father sign it. You will need a real estate attorney to accomplish this. Some Title companies can do this as well in Maryland. You should not have to refinance the mortgage. Hope this helps.
JLG
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Larry Galey
Expertise
I can answer most any question pertaining to the sale or purchase of Real Estate with a specific expertise in the States of Maryland, Virginia and West Virgina. I'm a licensed and active Real Estate Broker in all three of these states.
Experience
I have been a licensed real estate Broker for 30 years and have specific experience in the areas of new home sales, land sales, general brokerage and real estate investing. Any question pertaining to the purchase or sale of residential and commercial real estate is accepted and generally answered in a thorough fashion.
Organizations
National Association of Realtors, Maryland Association of Realtors, Greater Capital Area Board of Realtors, Metropolitan Regional Information Systems
Publications
Realtor Magazine, National Homebuilders Newsletter
Education/Credentials
Bachelors of Science in Marketing from the University of Maryland. Over 1000 hours of Continuing Education Seminars in all areas of real estate related topics.
Awards and Honors
GCAAR Million Dollar Sales Club, Major Achievement in Marketing Excellance Award, Finest in Family Livivng Award.
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General Motors Cadillac Division, IBM, Grayson Homes, Portrait Homes, Porten Homes, Bozutto Homes.
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