Question by Jules Z: For California, do both names on a mortgage refinance loan need to be on the house deed?
I am in the process of refinancing my property with my father. Since both of our names will be in the mortgage loan, do CA laws required him to be on the house deed or title too? He does not want interest in the property. If no, is it possible to ask the title company to just have my name on it during signing? If yes, can I look into a Quit Claim Deed? Thank you.
Best answer:
Answer by chatsplas
Your father cannot give lender a security interest in the home when he does not own it.
Consider whether your father is co-owner, co-borrower or just a guarantor. Discuss this with your lender.
Know better? Leave your own answer in the comments!
This is not legal, it is contractual, with the mortgage company.
The mortgage company is not going to lend your father money for property he does not own. He will have to be on the deed.
Both name does not have to be on the house deed before a mortgage loan can be granted.
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