Paying off mortgage from personal loan?

3 Replies

I own a home and my parents want to pay off the remaining mortgage with a personal loan. They are not on the loan or tittle and will not be on the title afterwards. Is this possible to do instead of me refinancing? 

I don't see why not.  It may depend on what your goals are long term and short term. In almost every case the interest rate on a mortgage will be far lower than an unsecured cash loan.