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My mother died left me a home in her will, mortgage is owed, how do I transfer ownership of home in texas when my credit is poor

El Paso, TX |

Mother left property to me in her will, home is still mortgaged and i have been making payments since January 09, My credit does not allow me to finance the home and the mortgage company tells me they can only list it as "In the Estate of" but that I would not be able to use the taxes paid on the home for my personal income tax at the end of the year. How do I get the home transferred and the deed? do I have to pay it off first

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Attorney answers 1


I am not sure the mortgage company is giving you good advice. If you are making the payments, you may well qualify for the deduction.

Having the home titled in your name would involve probate administration. The Deed would be transfered from the estate to you. You do not need to pay off the mortgage first.

Generally, the mortgage company will allow you to continue making payments without requiring refinancing. If they refuse, then you may need to look at alternative forms of financing. One of the big problems I see is that your credit record *should* reflect the fact that you have been responsibly paying on this debt for the past 8 months. You will not be able to get this credit if the mortgage is listed in the name of the estate.

You may want to look into new programs that may be available to you.

Best of luck to you!

James Frederick