Parents home in pre-foreclosure, can I pay to reinstate, add my name to the deed and then refi laterMy parents house is in pre-foreclosure. They have 2 lien holders (1st mortgage and 2nd home equity line of credit that turned into a 2nd mortgage). The pre-foreclosure is only for the 1st mortgage, but they are behind in payments on the 2nd as well. I want to pay the amount to reinstate their loan and have them add my name on to the deed. Then in 12 months can I remove their names from the deed and refinance the 2 loans into 1 loan in my name? Is there risk with taking their names off the loan if I am refinancing it? Because there is $300K of equity in the house can I do a cash out refinance? (again the house is NOT upside down, they are in pre-foreclosure because they got behind in payments).October 02 2013 - Alameda0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.