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Transfer security of loan to parents house

Posted by devinej devinej
Message 1 of 2 362 Views

To keep a homeloan (equity loan) open after sale of house can i transfer the security to my parents house temporarily (8 months) until I purchase a new house?

 

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Re: Transfer security of loan to parents house

Posted by PeteW PeteW
Message 2 of 2 360 Views

Thanks for the interesting question @devinej however this isn't possible as the name(s) on the loan needs to match the name(s) on the Certificate of Title for the land/property.

 

It seems like you have a specific need here so if you need to maintain a line of credit between the sale and purchase process, it may be best to speak with one of our lending specialists to see if there's anything else we can do for you. Let me know if you'd like to do this and I'll arrange a call for you.

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