Change name on short sale?

Help please!! First of all, I am in Texas because I think this could vary from state to state. I negotiated my first short sale. We are supposed to close before the end of the month. After the negotiation was finished, my partner and I decided we wanted to rehab the house ourselves rather than wholesale it. Now the question…is there any way to do this and get his name on the paperwork without going through a double closing? According to my title company, we have to close exactly as the papers read …in my name only. He (my partner) already has the financing arranged. I could call the mortgage company and ask them if I can add his name but I don’t want to jeopardize my sale. I hate to double close when “we” are going to do the rehab…Any ideas, helpful suggestions, etc?? Thanks in advance…Linda

Have you thought about forming a partnership & then having the partnership buy the property? Talk to your attorney about this. Then, just change your contract with the bank to the name of the partnership. Talk to the bank & let them know 1st & see if they are open to it. I would think that the bank shouldn’t care, as long as they get their $.

Thank you…I will give that a shot…I am calling the mortgage company right now…Ya’ll are always so good to help when I get myself in a bind. Thanks again!!