Assuming control of a property from my dad who passed last year.

[Arian Cora]

Greetings BiggerPocket members, This is my first post as I just created an account the other day. My question to you is can I do a refinance on a house that I assumed control of through a will? the mortgage is under my dad who is no longer here.

[Rick H.]

@Arian Cora - Welcome to BP. Probate financing has been my business for well over twenty years, however we only work California trusts and estates.

As @ Jerry W. states, there isn't enough information to give you much guidance. As I see it, you need to clarify your current status. If all you have is a will and have taken no further action, then it is necessary to have the will probated. In my state, CA, that requires a court order and, depending on certain factors, may require a full, formal probate procedure.

If a formal probate is required in your state, mostly your only refinancing choice during the probate process will be equity-based private money, which will be at higher rates and and costs than a conventional conforming loan would be.

Once the property has been distributed to you by court order or executors deed (or whatever is used in TX) and you own it, you are free to shop for the best loan that your personal circumstances qualify for, as any other homeowner wishing to refinance might.

Your Father's mortgage lender will probably not help you much until you get appointed executor by the court or have completed the transfer and have ownership distributed into your name. Their hands are largely tied by privacy and other laws.

Good luck with this matter and stay a part of BP