No Money Down - Posted by Jill

Posted by Robb on March 24, 2001 at 10:29:59:

Sounds good but think about what would happen if they put it in your name and the Home loan dosent go through.Their house is in your name for free.And if you have judgements in your name those could very easily turn into leins on their property.If the owner thinks of it this way they might not like that very much …But on the other hand if the house is in running order you shouldnt have a problem getting a loan for it. Just make sure their are no exsisting leins or back taxes on the property when it gets dropped in your name.If there is then those problems automaticly become yours as well.Hope this helps .

No Money Down - Posted by Jill

Posted by Jill on March 24, 2001 at 07:51:11:

I’d like to purchase my friends house but I was not pre-approved for enough $$$.

If they put the house in my name, will I be able to refinance it up to the appraised value to pay them?

Is there another route I should be looking at?

Thank you in advance for your help.