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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.
What else can I help you with?
How can I refinance a car under another name?
To refinance a car under another name, the new person will need to apply for a new loan in their name and use it to pay off the existing loan on the car. This process typically involves a credit check and approval from the lender.
Is it possible to refinance a car that is registered under someone else's name?
No, it is generally not possible to refinance a car that is registered under someone else's name unless the owner of the car agrees to the refinancing process.
What does it mean to refinance a mortgage or loan?
To refinance a mortgage or loan means to replace an existing loan with another loan. The new loan usually has better terms, such as a lower interest rate. The new loan is used to pay off the old loan, and one makes payments under the new terms.
Is it possible to refinance a mortgage without requiring an appraisal?
Yes, it is possible to refinance a mortgage without requiring an appraisal through certain programs such as the FHA Streamline Refinance or the VA Interest Rate Reduction Refinance Loan (IRRRL). These programs allow for refinancing without a new appraisal under certain conditions.
What type of refinance loans are HMDA reportable?
Under the Home Mortgage Disclosure Act (HMDA), reportable refinance loans generally include any loans secured by a dwelling that are used to refinance an existing mortgage. This includes rate-and-term refinances, where the loan amount may remain the same or change, and cash-out refinances, where borrowers take out additional funds beyond their existing mortgage balance. Loans that are not for the purpose of refinancing an existing mortgage, such as home equity lines of credit (HELOCs) or other types of unsecured loans, are typically not reportable under HMDA.
How can I refinance a car under another name?
To refinance a car under another name, the new person will need to apply for a new loan in their name and use it to pay off the existing loan on the car. This process typically involves a credit check and approval from the lender.
What is a person under control of another called?
Person under control of another is a puppet
What is associate company?
A company is associated with another company if one is under the control of the other, or if both are under the control of the same person or persons. Control is usually defined by reference to ownership of share capital, or voting power.
What is meant when one person is the ward of another?
A ward is a person under the care or protection of another person.
Can a car be reposessed if its under another persons name?
The car can not be under another's name legally. Cars with a loan must be in that person's name. If you bought a car that was not paid off and the loan was not cleared you bought the car and the loan. Yes, they can get the car. That is why they put liens in the car. It prevents anyone from buying the car!
Can a Person under 18 in California be employed to drive a motor vehicle?
Persons under 18 may not be employed to drive a motor vehicle.
what does hill arches the sculpture represent?
it represents a person that needs shelter so the persons under a shelter
What is the meaning of '' you''?
The pronoun of the second person, in the nominative, dative, and objective case, indicating the person or persons addressed. See the Note under Ye.
What is meaning of you?
The pronoun of the second person, in the nominative, dative, and objective case, indicating the person or persons addressed. See the Note under Ye.
Is it possible to refinance a car that is registered under someone else's name?
No, it is generally not possible to refinance a car that is registered under someone else's name unless the owner of the car agrees to the refinancing process.
What is a person guaranteed to have afair trail?
Under the US form of jurisprudence ALL persons are guaranteed a fair trial.
What is really meaning of you?
The pronoun of the second person, in the nominative, dative, and objective case, indicating the person or persons addressed. See the Note under Ye.
