Adding Parties to Title After a HAMP Loan Modification

by Anonymous

Can another person be added to title after a HAMP loan modification?

Mortgage Loan Modification Answer:

Yes, you can add or delete persons to the title of your property after a HAMP loan modification, UNLESS your lender stipulated otherwise in the loan modification agreement that you signed. Although it's not likely that this would be the case for the following reason:

The modification agreement is between the borrower and the lender. It really doesn't matter who's on title or who owns the property because the borrower is the one legally responsible for the loan. Many times, people on the title are not the same as the people on the loan.

It would be prudent to ask an experienced real estate attorney to look over your loan modification agreement prior to signing.

Please feel free to post with additional questions or comments.