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CrazyCaper · 02-05-2010, 04:16 PM

All the wise and lawyer/broker types of CP,

My wife and I are looking at refinancing and consolidating some bills. I have talked with a broker who can offer us a "phenomenal" interest rate, however, due to our credit score, cannot qualify for.

He suggested that we transfer the title to my wife's parents(who live with us btw). They would remain on title for 6 months and then we would be transferred back when our credit has improved.

Has anyone else heard of this practice before? Just want to make sure this is a "legitamite" business practice.

Thanks,
CrazyCaper

02-05-2010, 04:16 PM	#1
CrazyCaper Scoring Winger Join Date: Sep 2006 Location: Section 217 Exp:	Mortgage question - Temporary transfer of title to parents All the wise and lawyer/broker types of CP, My wife and I are looking at refinancing and consolidating some bills. I have talked with a broker who can offer us a "phenomenal" interest rate, however, due to our credit score, cannot qualify for. He suggested that we transfer the title to my wife's parents(who live with us btw). They would remain on title for 6 months and then we would be transferred back when our credit has improved. Has anyone else heard of this practice before? Just want to make sure this is a "legitamite" business practice. Thanks, CrazyCaper