Newsgroups: misc.consumers.house
Subject: Add cosinger to existing home loan
From: rspect 
Date: Sat, 01 May 2004 20:10:42 -0500

Hello,

I did purchase new house on March last year 2003.
At that time I purchased the house, my old son just graduated and make 
little money. So I put only my name on the home loan.
And just myself, I was approved because I have 700+ score and no credit 
cards and have small business for 10 years at the same place.

Now, my old son is making about 50k per year. And since he has been helping 
me paying some utilties or mortgage. He want to put his name on the my home 
loan. The loan amount is about $270,000.

Is it possible to make amendment to the exist home loan so that my son's 
name is on as cosigner?

I know I can try to refinance, but I am asking this without refinancing 
process. Just adding my son's name on my existing loan.

If it is possible that both names can be on the loan contact, is it 
possible for my son to get tax benefit instead of me? I heard that only one 
person can get tax benefit for a house.

Thank you for your help,