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    gamonroy0526's Avatar
    gamonroy0526 Posts: 1, Reputation: 1
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    #1

    Aug 27, 2009, 12:29 AM
    Home ownership
    I would like to know how to changing the ownership of a home because the payments and the interest rate are to high and would like to change home ownership to see if the rates will lower.
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    Aug 27, 2009, 02:16 AM

    Gamonray, you don't change the ownership of your home because the interest rates are too high. What you need to do is re-negotiate your mortgage, if you have enough equity in your home, to make it more manageable.

    Tick
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Aug 27, 2009, 05:08 AM
    Quote Originally Posted by tickle View Post
    Gamonray, you dont change the ownership of your home because the interest rates are too high. What you need to do is re-negotiate your mortgage, if you have enough equity in your home, to make it more manageable.

    tick


    I read this as OP not getting a favorable rate because of some circumstance, perhaps a bad credit report and wanting someone else with better credit to obtain a mortgage.

    Of course, I've been wrong before.
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