Refinancing 2 condos where I hold title


I am holding title to two condos which had been quit claimed to me.
I took over the titles subject to existing loans. Now I want to refinance them in my name which I can do but conventional mortgage broker said that I have to quitclaim them back to their former owners and arrange a sale.

That’s not a good advise really, besides I do know that holding the titles should make it easier to refinance.

What kind of lenders can help? Please advise


Why not simply get the former owner to agree to a sale.

Place the properties in escrow.

When you get loan approval and ready to close:

Have your qcd to him recorded by escrow followed by his deed to you to satisfy the lender and then your deed of trust to the lender and everybody is happy and you have them refinanced .

A simple sort of double closing situation.


Talk to another lender. I have often refied properties subject to existing loans. Think about this - if husband were on title and wife wanted to get the refi, they’d be ok with a quitclaim to wife and then refi, wouldn’t they?