My mother who is 80 has a home with a terrible mortgage. I want to pay down the loan from 295K to 60K or make a 235K payment. I want to refinance the terms on the remainder (60K) and place my name with hers on the loan. Basically assume the loan and make the payments, with both parties responsible but pay down and refinance the loan. I am sure they will be happy to refinance with the 235K payment, but how do I take over the loan and add my name. Do I just ask? I am currently making her payments (2,600 monthly without the interest deduction).

Before I go off in the wrong direction let me ask your mom's interest rate and type of loan?

6.65% 30 year fixed.