Q. If you purchase a property with a variable interest rate can you convert that loan to a fixed rate while keeping it in the sellers name? If so, how? A. You can try. It is called a modification and it does not hurt to ask.

I converted an ARM that was in my wife's name to a fixed rate interest only.

You do not want to go through a refi process. The one I did they just reset the mortgage for a fee of $300. I do not think they even checked Lori's credit. 

I would call the mortgage company on behalf of the person on the loan. And ask if it is possible to modify the loan at all. Then ask what the options are if they say yes.

- Tim