Three years ago my father passed away. In order to assist my mom with costs and remaining in the house she has lived in for so many years I refinanced the home. I refinanced the home with her and I on the mortgage as well as the deed. I am now looking to move on and buy a house of my own and my brother-in-law and sister are interested in owning the house with my mother.

My question is can my brother-in-law and sister refinance the house with my mother even though they are not on the deed of the house?

Sincerely,
Adoredevotion

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Originally Posted by Adoredevotion

Three years ago my father passed away. In order to assist my mom with costs and remaining in the house she has lived in for so many years I refinanced the home. I refinanced the home with her and I on the mortgage as well as the deed. I am now looking to move on and buy a house of my own and my brother-in-law and sister are interested in owning the house with my mother.

My question is can my brother-in-law and sister refinance the house with my mother even though they are not on the deed of the house?

Sincerely,
Adoredevotion

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Yes - you would be taken off with new re-fi and they would be put on with mom...

Thank you CVillecpm for you answer. I thought the same thing but when my brother-in-law contacted the VA to refinance they told him he would have to be on the deed to do that. The problem with that is I would be voiding my current contract with my mortgage if I were to add him to the deed of the house. Any suggestions, comments or ideas??

Sincerely,
Adoredevotion

It is really merely terms, since they are not currently on the deed, they are acutally merely buying it, so a new loan has to be taken out.
But this is really what a re-fi is anyway, just a nw loan. But in your case, not only will you have to have a new loan, but a need deed also, which requires more work than a mere re-fi wold be.

So the brother in law, along with the mom applys for a loan, and then it pays off the old loan and a mortgage company does a new deed.

So it is really not a re-fi since a new deed has to be done and there are new people to be added to mortgage also.

I am not understanding how it was possible for myself to refinance the house with my mother in the first place when I was not on the deed. I am assuming it was because my mom was on the deed from the start. Anyway... why wouldn't my brother in law be able to do the same thing with my mother and when refinancing the new deed would be drawn up just taking my name off and adding my brother-in-law since my mother is already on it. I am not seeking any kind of retainment for the property I want to give my half to my brother-in-law as a good faith gesture.

I spoke with a real estate attorney and he says that this is allowed so I am sort of lost on why the VA is telling my brother-in-law this is not possible.

Sincerely,
Adoredevotion

VA is a whole different type of mortgage agreement so don't use that as an example.

If your brother is trying to re-fi VA, that may well not work... you need to do a conventional loan,