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In most states, it is not necessary for the mortgage holder to also be listed on the title of the home. For example, I may purchase a home for my mother...the mortgage is in my name, the title to the home is in hers. Of course, the lender/bank is the actual owner of the home until they are paid in full.

There are so many questions that have to be answered before a good answer can be given to you. Are you also going to be listed on the mortgage? If not, then the "other person" is essentially buying the home from you...or for you. In either case, you should start by contacting a mortgage broker (not a bank, they are very different) and telling them what you want to do. Since every state has different rules, they can tell you exactly what you need to do and they can also get your "other person" in to get qualified for a loan.

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โˆ™ 2007-07-29 02:29:40
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Q: How can a person refinance under another person's name?
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