Can I Finance my Child’s Home Mortgage in Maryland?

Depending on the mortgage you are hoping to finance, there are a few ways this could work. For example, if the current property is deeded under your daughter’s name but you simply want to pay the monthly payments on her behalf and she will pay you back as if you were a bank, then this could be accomplished by having her execute loan documents and recording a mortgagee on the property showing you as the lender. Another scenario would be to have your name as a co-signer to the mortgage through the bank. This would mean that if your daughter failed to make payments, you would still be responsible. This could be accomplished by having you as a co-owner of the home. Each financial situation and goal could be different for each person.

For a free, confidential conversation to discuss this and other Maryland property law matters, including drafting, filing and recording Maryland property deeds, contact Maryland property law lawyer Stephen J. Reichert at 410-299-4959, sreichert@reichertlegal.com or by clicking here. Mr. Reichert looks forward to assisting you with your Maryland property law, property title and real estate deed issues.