I put my name on a house for my mother, she pays all the bills and now i want to take my name off the morgage?

Question

I put my name on a house for my mother, she pays all the bills and now i want to take my name off the morgage?

Answer 1

The only way is to sell the house to your mother and she'd have to secure a mortgage on her own.

Answer 2

The only way is if your mother can refinance the place by herself

Answer 3

Your mother will have to purchase it from you and get a mortgage in her name.

She can't assume your loan.

Answer 4

You won't be able to, unless your mother's income and credit rating qualifies her to take over the terms of the mortgage as they are, or to refinance.

Talk to the bank that holds the mortgage and see what they say. You may be stuck owning this house for a long time.

Answer 5

Your mother will have to qualify for a loan in this case.