My mother wants to give me the house she owns but still has a loan out for. Is it possible to deed the house over and what if any responsibility will she still have if any since I am not purchasing it with a lender?
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Legally you may own the property, however your mom is still responsible for the note. If she should fail to pay, they can come and foreclose/repo on the property. If your trying to get into a property of your own, I would try to see if the loan is assumable. If not, worst case scenario is refinance it and pay off the old note so you have both the property and the note in your name. -
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