What kind of partnership agreement is this?

[Myles Kennison]

A few years ago, my parents placed my name on their mortgage and title so that if anything were to happen to them, there would be no issues about me getting the house. I am trying to buy my first investment property but my name on their mortgage is making it difficult to secure a loan for myself because my DTI is too high.

My parents pay their mortgage and I have documentation showing that they are the only ones that have ever paid on it and I have never touched it. The lender wants me to also have something in writing showing that my parents have legally agreed to pay the mortgage payments. If I have that documentation, they can treat my parent''s house as a rental property.

I just need to know what kind of agreement I have with my parents so I can use the correct template and get the documentation together.

My parents are in the process of refinancing their mortgage and removing my name completely so I don't run into this problem in the future but that will take some time and I need this done ASAP because I have just gone into contract.

[Eamonn McElroy]

The cheapest, easiest, and fastest way is just to ask the bank exactly what they want to see....