Sunday, September 18, 2005

A mortgage may be best on parental home loan

A mortgage may be best on parental home loan - baltimoresun.com: "A few years ago I lent my child a sizable down payment when she wanted to purchase a house. For her to benefit from the 'first-buyers' discount, we decided to put the house only in her name; however, my name also was on her mortgage. As the mortgage rates continued to drop, I paid off the house for her (to avoid the refinancing charge), and she has been paying me back monthly without fault. She has recently married, and we recognize that my name should be added to the deed. What steps and information do I need to achieve this? Thanks for your help. "
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