Can i refinance a house that is not mine?

Brandon
My dad can no longer pay for his mortgage. The house and loan is under his name. Can I refinance and switch the house under my name?

Debbra
You would have to purchase the house and it would be put in your name if you qualify for the loan but it shouldn't be a problem

Althea
You would have to qualify for a mortgage. But in order for you to refinance the home the title must be in your name. If you dad agrees he would need to deed the property to you and then you could qualify for a mortgage. You might want to try to qualify for a mortgage before he deeds the home to you. Because if you don't qualify he may want to sell the home, in this case he would need the sale proceeds to move somewhere else. Hope this helps.

Sharee
You can't refinance it, but you can purchase it from him.However, you can't do it without his knowledge and signature.The lender will treat it as a non-arms-length transaction between family members, and this will also be noted on the appraisal.You will have to purchase under second home guidelines if you will not be living in the house.Keep in mind, that your father, even though YOU will be purchasing the home, will require a payment history on the current mortgage to show that it isn't under distress. If his payment history isn't good, a lender may refuse to fund the transaction.

Hue
He can quit claim the deed to you. I did the same thing for my father a while back, pretty easy process.

Chance
Better than quit claim, do a grant deed and you won't have to refi. Transfers from parent to child are not subject to a due on sale/transfer clause and you will be allowed to continue making the payments.