We would like to refinance our home
But because we don't have work history
Or good credit- someone suggested we ask someone to refinance the home for us, in their name.

My father-in-law has agreed but was told once he gets on the deed it would take a year for us to be able to refinance.

Is that true? Can it be done at the same time?

There is NO LAW that dictate the time between refinancing. I have had clients refinance their house THREE times in one calenda year.

Some mortgage companies put financial DISincentives on refinancing.

It would probably take at least a year for your credit history to improve enough to refinance anyway.

Hi Froward: If your father-in-law puts the house in his name, he OWNS it. Based on the information you have given, the bank is not going to refi in your name, so it will only be his name on the mortgage and the deed. Thus, you will technically be buying the house back from him. This opens up a whole set of problems. You are looking for a way to come off a mortgage but stay on a deed. You need to see an attorney.