Signing over a home loan

My DH and are in the process of buying the home we have been renting. The problem is we found out my husband has some issues on his credit that we need to rectify. This could take months not sure. The woman who owns the house currently is being a real ahole and pressuring us to buy or she wants to sell it (lease is coming to an end).

My question is...if I were to ask my parents to put in their name so we can buy it without waiting how easy or hard is it to transfer ownership to us once we rectify the situation? Are we essentially buying it from them? Any info would help thx!

Signing over a home loan

I think that's tricky and could become messy honestly. Are you already in contract? If so, perhaps run it by your attorney and see what they have to say.

Message edited 8/3/2017 10:46:08 AM.

Signing over a home loan

Ours was not that hard but it would depend on the mortgage. Transferring a deed is easy. We did a refi- transfer on our mortgage.

Re: Signing over a home loan

Can you buy it in only your name?

Signing over a home loan

I think it depends on the bank and loan. Some can not be transferred and you'd have to buy it from them. Maybe better bet is to buy it with your parents if they are willing and leave DH off mortgage. Add him to deed later. Could get tricky depending on income sourcing etc., but you might be able to pull it off.