From: rcmcneal@mindspring.com (Ryan)
Newsgroups: misc.invest.real-estate
Subject: Home Mortgage Question
Date: 25 Jan 2004 08:24:27 -0800

I'm pretty sure this is a very uncommon situation.  That is why I'm
looking for some advice.  My wife and I are looking to build a modular
home(not to be confused with a mobile home) in Virginia.  My wife's
father works for the modular home company and can receive a 16%
discount on a home if he purchases one.  That's huge savings!  I would
like to take advantage of the savings, so I was trying to figure out a
way to accomplish this.  The building process would require a
construction loan that would get rolled over to a mortgage once the
home is built.  Would it possible for him to take out the loan and I
would co-sign the loan, then have his name removed and have me made
the main borrower?  If this wouldn't work, is there any other way to
work this out?