DIYbanter - View Single Post - transfering property deed

The Reverend Natural Light

wrote:

If the friend agreed to keep the name on the mortgage (but not have to
make any payments), will that be a disadvantage for them if they go to
qualify for a new loan on their own? (assuming the existing loan stays
in perfect standing)

The debt will reduce the amount that your friend can borrow on a future
mortgage. Debt is debt - the bank won't care about your arrangement.

-rev