Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » How to go about personally refinancing a relative’s mortgage (in Ohio)?

How to go about personally refinancing a relative’s mortgage (in Ohio)?

A relative in Ohio missed a few payments on her house and narrowly missed a forced foreclosure auction.

I’d like to bail her out somewhat by taking over her mortgage from the existing mortgage company. She would then be making payments to me instead of them, and I’d be a LOT more willing to forgive a missed payment or three. (Also her payments would be a lot less, even if I charged, say, 4% or 5% on the balance — and no, I’m NOT trying to get rich off her or gouge her!)

It really sounds to me like a refinance process, where she would be refinancing her home, but through me instead of a traditional lender. (I have enough cash to pay off her existing mortgage and separate lien.)

But I don’t know how to get the process started, or what kinds of paperwork I’d need to provide.

Anybody else go through this before? Or be able to tell me who to talk to, or where to go? (Be nice, now …)



  1. Mortgage refinancing and fees – and prepaying mortgage? Our current 30-year mortgage is at 5.25% but I think we could get it down below 5%. We’re about 5...

  2. Mortgage Refinancing Process? I have 2 missed payments and now I am receiving phone calls and letters from banker saying they will foreclose...

  3. Mortgage Broker – Mortgage Refinancing Australia When looking to refinancing your existing mortgage ensure you use a mortgage broker like Gain Financial Solutions who is...

  4. I am having cold-feet about refinancing my mortgage, what do you guys think? I am a first-time home owner and I have been in my house just under three years. I have good...

  5. Refinancing under water mortgage? I am like millions of homeowners who are under water on their mortgage. I have been trying to get refinanced...

Written by

Filed under: Mortgage Refinancing · Tags: , , , , ,

2 Responses to "How to go about personally refinancing a relative’s mortgage (in Ohio)?"

  1. Ted says:
    sounds you have good thoughts for her …
    Listen my advise (based on my personal experience) ….. don’t do that mistake. If you really like to help, make a payment or two … don’t jeopardizes your own financial situation or credit, unless if you are wealthy. Laws might protect you but you need time and money to go to court (which I didn’t had) if it get worst.
  2. robert_byrne says:
    You may want to start by calling an escrow company and discussing the situation with them. The easiest thing may be working with a broker to arrange the deal, but it may be possible do it just with the escrow company (if you are willing to prepare the necessary documents).

    You could also purchase the property from your relative and have her pay you “rent”.

    Either way, make sure you fully consider the risks, including the possibility that your relative defaults on many payments to you.

Leave a Reply

Connect with Facebook


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player