Trying to lower monthly mortgage payment- tried a refi and were appvd, until our home appraised for less?
Than we owe on it. We paid 265 in 06 when it appraised for 275. As my husband and I both have less than perfect credit, it is hard for us to refi conventionally. We were trying an FHA loan. Could we sell the house to my father, who has sparkling credit, for what we owe on the home? To get a better monthly rate or even interest only rate? We don’t plan on staying in the home for much longer- 2 yrs maybe.