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/u/PizzaThrives
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As stated, dad can't finish paying off his condo's mortgage in Miami. He has a remaining balance of about ~$60k. It is his only property.
What are the best legal steps to take?
Can I do a quit claim deed and refinance the next day? Should a trust be made?
I want to move fast but don't want to make any steps I will regret down the road. I'm ok with doing a refi of 30 or 15 years with a fixed rate and then refi again, if and when, interest rates go down.
So what should the next steps be? Go downtown and do a QCD then see a mortgage broker? See a lawyer and create a trust?
Appreciate any guidance provided. Thanks in advance!
Edit: His current mortgage loan is an ARM over 8%. His credit score is very low, mine is high. How can we keep his homestead exemptions while allowing me to refi and allowing me to take mutual ownership of the home?
submitted by /u/PizzaThrives
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My dad can't payoff his mortgage. What are the right steps for me to refi the balance?
Continue reading...
What are the best legal steps to take?
Can I do a quit claim deed and refinance the next day? Should a trust be made?
I want to move fast but don't want to make any steps I will regret down the road. I'm ok with doing a refi of 30 or 15 years with a fixed rate and then refi again, if and when, interest rates go down.
So what should the next steps be? Go downtown and do a QCD then see a mortgage broker? See a lawyer and create a trust?
Appreciate any guidance provided. Thanks in advance!
Edit: His current mortgage loan is an ARM over 8%. His credit score is very low, mine is high. How can we keep his homestead exemptions while allowing me to refi and allowing me to take mutual ownership of the home?
submitted by /u/PizzaThrives
[link] [comments]
My dad can't payoff his mortgage. What are the right steps for me to refi the balance?
Continue reading...