<prompt> Human: Hi everyone. First time posting so please let me know if I need to include additional information. This is in Dallas, TX. I recently moved into my parents old home and took over their mortgage. The mortgage is still under their name but I am currently making payments on the mortgage. Is 5.750 a high interest rate? I do not know what my parents initial down payment was. Ive considered refinancing the to lower the interest rate but have not idea how to go about doing this. What are the risks involved and is it a good idea to refinance?  <response>: The mortgage is still under their name but I am currently making payments on the mortgage.Then you have not taken over the mortgage, you have made payments on someone elses loan for someone elsee asset. You need to buy the house from them properly, and you need a local professional. Its possible, but not easy to take over a mortgage. 