Someone suggested to me to quick deed my house to someone with better credit than me ( mine is awful now) to refinance my house. Is it possible to do this? and is there any risks? and how would I go about doing this?
Someone suggested to me to quick deed my house to someone with better credit than me ( mine is awful now) to refinance my house. Is it possible to do this? and is there any risks? and how would I go about doing this?
They seem to be suggesting that you give somebody else the title (ownership) of your home, that the other person get a loan in that other person's name, and that you make the payments. I guess if the loan is paid off, the idea is that the other person would title the property back to you. The most obvious risks for you would be that at some point the person you make owner decides to treat you like a tenant, with your payments as rent and you subject to eviction, or doesn't title the property back at the end.