What would you do?

[Julian Earle]

Hi everyone, I am a newbie out of South Carolina I am looking to seriously start investing in real estate I would like to do some flipping deals as well as buy and hold properties. I am currently working on my first buy-and-hold property which is actually a property that my stepdad owns. Here's some background: My stepdad was no longer able to pay the mortgage on the property, the property was put into the pre-foreclosure process , I was able to get the property out of pre-foreclosure. I am currently paying the mortgage on the property as well as fixing it up. My plans are to move into the property and at some time later time rent out the property. The mortgage is still in my stepdads name and the insurance is being provided by the mortgage company "nationstar" I am interested and having the deed put into my name as well as the insurance so that I can pay a lower monthly cost for insurance. However I do not want to do on sales clause. I here that once the insurance company notifies the mortgage company of the beneficiary name change it can accelerate the loan. I also belief I read that if the deed is transferred to the spouse or children it does not accelerate the loan. Does anyone know if this is true? and if so would I be considered his child by marriage? The main reason I'm looking to secure the property is that my step dad is Ill and in the event he passes I wouldn't want any issues with anyone trying to take the house from me Please help