Mortgage - Posted by Princess

Real Estate Investing Real Estate Law
1

Posted by dealmaker on January 31, 2007 at 09:06:42:

I’m not sure how this friend conned you into doing this but it sounds like you are in a precarious position! Is you name at least on the DEED?

If your name isn’t on the deed you can’t SELL it to your friend because you have NOTHING to sell! Your friend needs to get this place refinanced NOW to get you out of this hole!

If you now wanted to buy a house for yourself you might have a difficult (or impossible) time getting a loan because of your current COMMITMENT on this loan.

dealmaker

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Mortgage - Posted by Princess

Posted by Princess on January 31, 2007 at 02:35:36:

If my name is on a mortgage loan, but I haven’t paid a cent towards, cuz I only did to help a friend out and they have been paying on the loan the whole time, can I like sell the property over to them and my name be off the loan?