Renter becoming a co-owner?

[griffiscustoms]

I have been "renting" so to speak from my grandfather, he has a double wide manufactured home that he signed for about 7 years ago for my uncle (although it was never in my uncles name.) It's financed through Green Tree.

I've been here for 2 years, on the agreement that I just paid the monthly payments, no deposit or anything and that he'd give me the land where the house is. However, in 2 years since I've been here we havent taken any initiative towards putting anything in my name. He's 74 years old and is busy with his own things so I'm trying to get some knowledge here before approaching him on the subject.

How would I go about having my name put on the mortgage (along with his) because my credit is bad (I'm in the process of repair, please do not tell me to fix my credit THEN do it) because I know it can be done without waiting that long regardless of my credit just from things I've read. To my knowledge as long as he's approved then he can put me as a co-owner (am I correct)?

I guess I really want to know the process, the home is already mortgaged so what do I need to do in order to have my name put on it? Do we "refinance" the house or what? I'm new to real estate (but I'm trying to learn).

I just want it in my name since I'm paying for it and I might as well get the credit and other benefits from it as well.

Any suggestions? I want to be on the right track when I approach him with the subject..

[sr28b]

I'm not an attorney and please don't consider this legal advice.

One option may be to record a contract for deed. This will give you 12 months (or longer if needed) to fix your credit and then apply for a loan as a refinance in 12 months.

Your probably already doing this, but it is extremely important to make the payments with a check so that you can document the payment history when it's time to refi.