Posted: Fri Nov 17, 2006 9:48 am Post subject: Halp
Thank you Samantha for that information. Do you have any reccommendation of any ligitimate companies that will buy homes in any condition. Also, have you ever know anyone who let someone buy their home from those ads and or build boards you see around.
Posted: Mon Nov 20, 2006 2:12 am Post subject: RE:
Hi Aka,
Currently I am not familar with any such company. But you can post in our forums, the minimum information about your property as our Community member. May be any of our members can come up with the information you require.
You can quit claim the house but the loan will still be in your name. So, how can your brother refinance the house. Is his name on the loan? If yes, then refinance can be done and at closing, the loan documents will be signed only in your brother's name.
Posted: Tue Jan 09, 2007 5:35 am Post subject: RE: Refinance to avoid foreclosure
Hi Jmlage,
Welcome to the forum.
I guess that your home will be into foreclosure and in order to avoid it, you have thought of transferring your property to your brother. But he can refinance provided his name is on the loan along with you.
Refinance is the process by which a borrower can pay off the current loan with a new loan equal to the loan balance or even higher than that. So, if your brother isn't the primary borrower, then he cannot refinance the loan.
If you wish to avoid foreclosure, you can try out other alternatives explained in the section, How to Avoid foreclosure .
Posted: Mon Jan 29, 2007 8:37 am Post subject: fore closure
i have had a quick claim done and filed, but exwife has filed bankrupcy and is moving out of the house, leaving me with loan to pay, what options do i have
It seems that you have already transferred your property in your ex-wife's name. But are you on the loan also?
What type of bankruptcy has your ex-wife filed. Please explain your situation so that I can give you some suggestions. _________________ Procrastination is the enemy of your financial sucess
Posted: Thu May 10, 2007 11:55 am Post subject: Quit claim to in laws
I went through a divorce and my ex husband and i quitclaimed the house to my inlaws with an agreement that they will refinance in 3 months. They said they just wanted to help but our plan was to sell the house.It's been over a year and they still have not refinanced and I'm worried because it is affecting my credit score. The loan is still under my name and my ex husband's name. My ex in laws are not returning my phone calls. I'm worried it might get to foreclosure. I was out of the house since September 2005 and they have been paying the mortgage eversince however, there are times that they are late. What can I do? Should I file a case against them? It was just a verbal agreement that they assured me they will refinance in 3 months and they didn't do it. Please let me know what steps I could take to resolve this.
The mistake you did was not to document the agreement you had. You need to tell them that they will lose the house if the payments are not made in time and the lender forecloses.
I do not know how helpful filing a case would be as you have no written proof that in-laws did agree to refinance the mortgage. But still you can consult an attorney to know if something can be possible or not.
In laws own the house now and they stop the payments chances are that they lose the house. Plus your credit score will go down. To save your credit you can ask them to sell the house pay off the mortgage balance and keep any balance profit.
I cannot see any other solution to the problem you are in.
Posted: Fri May 11, 2007 5:26 am Post subject: RE: refinance after quitclaim
Hi Marianne,
Welcome to our forums.
Frankly speaking, you did a mistake by not making a written agreement regarding the refinance. But we all learn from mistakes, so do not worry. Have patience and be positive. Things will turn out well once you can find a way out of this problem. Now, of the loan is still in your name, then the lender would definitely ask for the payments. But your ex-husband's name is also on the loan, so it is partly his responsibility to make payments.
What I feel is that, you should first approach the lender and tell him all that is happening to you. Talk to him freely and tell him that the co-borrower isn't responding. The lender has the right to demand payments from your husband and even take over the property in case the loan is not repaid I full. But is your ex-husband still not aware of what your in-laws are doing or is he involved in this?
I don't think you will get much by filing a lawsuit. This is because you have no written evidence of the fact that your in-laws would refinance. However, consulting an attorney would be the right step taken at this point of time.
Posted: Sun Jun 17, 2007 12:11 pm Post subject: guick deed
I brought my house before I got married, I've been married 12yrs and getting ready to file for divorce. I live in the state of NY. If I guick deed my house to someone, will he be intitled to have my house, His name isn't on the deed or mortage?
Posted: Mon Jun 18, 2007 2:23 am Post subject: RE: Is anyone entitled to property after quitclaim?
Hi Ann,
Welcome to the forums.
His name may not be on the deed now. But when you quitclaim your property to the person, it implies that he's getting ownership rights over your share of interest in the property. And the quitclaim has nothing to do with the mortgage, if any.
will he be intitled to have my house, His name isn't on the deed or mortage?
Hi Ann,
As you had purchased the house before your marriage and his name was not on the title or mortgage, he will not be entitled to get anything. You can quit claim it to anyone you wish to. Property is your sole property and he does not have any rights over it.
Posted: Mon Jul 09, 2007 12:15 pm Post subject: forecloser
i bought a house with an interest only loan and the market hit a wall, now my house dropped from 350,000 to 300,000 and i can't even keep up with the payments. If i foreclose will the loaner be able to ruin my life such as take my business that i own. and also will i ever be able to buy a house again and have bank accounts
Samantha
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