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

    Sep 17, 2010, 07:15 PM
    Deed 1/2 interest
    I own a home in Texas occupied by my mother in law. I want to refinance and ask if I can deed her 1/2 interest and we both qualify for refinance. This will help with her rent by decreasing taxes and insurance which currently cannot have homestead exemption and has un-owner occupied insurance on it. Is this legal and do I have to have approval of current lender?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Sep 17, 2010, 07:31 PM

    It will not really be a "refi" it will be a new finance since new loan will be in both names and new deed is issued with new person.
    lmcgraw's Avatar
    lmcgraw Posts: 4, Reputation: 1
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    #3

    Sep 18, 2010, 02:47 AM
    I would speak to lendingtree.com, after speaking to a banker you can trust. That is, not your banker, but one you know as a friend.
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