Hi, and welcome to Just Answer. Thank you for entrusting me with your legal issue. I will do my best to assist you. During the course of our interaction , I may need some additional information. Also, please keep in mind that when any of us at JA legal answers a question, we don't know what you, the customer, already knows about the issue unless we are told
DON'T TOUCH THE LOAN!! THE INTEREST RATE IS GREAT. Here's what you do.. You need to decide among you, mom and sis:
1. Whether you want to charge mom rent to live there (this is legal/business)
2. Who should pay the mortgage, interest, taxes, insurance, repairs, etc.
3. Most importantly...who can take the deductions for interest, taxes, insurance, repairs, etc.