[christidg]

I purchased my house from my father in June with my mother in law as a co-signer. I got a gift of equity from my dad and have been trying to take out a loan. My credit is really bad so my mother in law has been trying to help out with it by signing, but it isn't working well. As a last resort we decided to re-fi but because of my credit I couldn't be a part of the re-fi. Does that mean I am not going to be connected to the house anymore?

[Fr_Chuck]

As long as your name is on the deed, you will be at least part owner,
The lender may allow you on the deed but most likely your mother in law will have to be a co/owner of the property.

[ScottGem]

Who takes out the loan has no bearing on the ownership. Its who is on the deed that counts. The flip side of this is lenders are reluctant to make a loan that doesn't include all people on the deed.

This also doesn't make sense to me. A mortgage is a loan taken out for the purchase or financing of real property. No matter how bad your credit, the lender still has the property as security. If you have enough equity it shouldn't matter what your credit is except in terms of the interest rate you will get.

The bank may want a co-signer to further guarantee the loan, I can't conceive of them issuing a loan without you as owner a party to it..