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| 30 Quick Messages | ||||
 pnightbird |
I am hoping you can help me with this difficult question. I am in a same sex relationship, and my partner is the one whose name is on the mortgage to our home and he makes all the payments. We have mortgage insurance, but we called our mortgage company to find out how we can make sure if anything happens to him the home would be transferred to me, because being a same sex couple we cannot get married in our state and therefore there are no guarantees the home will go to me or that one of his family members will not try to step in and take it from me. We do have a living trust and will made giving each other all rights to property, but we are trying to cover all the bases so to speak (and then some) so that no one challenges anything as so often happens with same sex couples -our rights are usually trampled on because we have no rights under the law as a couple in most of the USA. Our mortgage company agent stated the following, and I would like some information if this is true: " I probably shouldn't be telling you this, because the mortgage companies don't like this information getting out, BUT, if you do a Quit Claim Deed, not only will all rights go to your parnter, but even if there is money owed on the home, the mortgage company can no longer legally try to get this payment or foreclose as the home is now transferred to someone else whose name is not on the mortgage and therefore not legally responsible for payment as the deed grantor is no longer living." Is this statement true? Will the home now legally belong to grantee? And will this also stop our mortgage company from coming after any remaining debt or foreclosure since the home is in someone elses name now? Our mortgage insurance only applies for accidental death, so it would give us some peace of mind this was true in case of death due to natural causes. Thank you for any help on this, as this issue is complex for same sex partners. | |||
mariceluyrobles |
Hi, Jessica. We got a single residential home for $450,000 last Oct 06. And because of medical reason I cant afford to pay the mortgage anymore. A friend recommended an agent to do a short sale, wegot a buyer for $290,000 but cancelled the deal @ the last minute of our due date. My agent requested an extension to sell it out again which got approved for an extra month but since then we are not getting any buyer. I was thinking to do DIL but I have 2nd mortgage. What do you think is the best option to my problem?I think I have no other solution other than foreclosure.I hope you could give me an advise regarding my problem. You could email me @ mariceluyrobles@yahoo.comI'm confused and don't know what to do. | |||
jcarson_88 |
Jessica, I need help. I,m fully disabled on limited SSI with a FHA loan in Arkansas. I found out today my mortgage co, has filed forclosure on my home. I owed 5 pymts and have tried to pay 4 which they refused. They want all late and attny fees as well. A sale date has been set for early sept. | |||
progers |
Jessica-mine is a home eq loan. The lender is US Bank Because I cold not get any farther than collections and by the time I realized collections just want to collect- (mind you the collections rep TOLD me I had loss mitigation) I got a direct no to loss mit. Then loss mit told me my account was out of their dept. it had now gone to Asset mgmt which is in between collections and an attorney. The asset rep is very nasty -told me I have no option except to pay the arrears in full. i asked for 60-90 days. He said i told you no already. | |||
Quitclaim Deed |
My situation is that I bought my home prior to being married. I then got married, used the house as the maritial residence and refinanced while being married.Now I'm divorce, my ex-wife has moved out. I want her to sign a quitclaim deed even though she never was on any deed to my property. An attorney suggested that we *both* sign a quitclaim deed as grantors with only myself as the grantee. I would have thought she should be the only grantor. Any ideas? | |||
goldenangel1952 |
What happens when you don't sign a quick deed, there are three owners- only two signed and the mortgage was recorded and not the deed.Only two signed the mortgage also. They tried to get my husband to sign the mortgage. Only he was not suppose to be on the mortgage-- He was the seller only. | |||
J.A. |
hi Ms. bennet my Q. is about if someone is using my personal info: to qualify ppl with no legal status in U.S. without my conset.... | |||
wmouse |
My boyfriend and I have two homes. One is rented, but the rent is short by $300.00. Also the ARM loan is coming due in Sept and they said the mortgage payments will go about about $400 more a month. Wow! That's $700 out of pocket we have to come up with just for our rental house. ALSO, the house is upside down by over $60k. The house we are living in is very expensive. We built it and it was suppose to be for investment, by now the market in Arizona isn't buying/selling and we are stuck with a $2600 mortgage payment. PLUS the $700.00 payment from the Rental House! Ouch! What do we do? My boyfriend is throwing in the towel and wants to dump both houses. I don't know. We can't afford the payments any more and it's putting a strain and the relationship. Also, he no longer has any desire to keep either house. He's willing to let them go to Foreclosure. Should we just walk away? We have high credit scores and I hate to loose that. Any ideas? Which would be worse for our credit? BK or FC? Please help. We are not yet behind on our payments, but this month has not been paid yet. | |||
Steve |
I had a quick question. I came across this and found it interesting. My ex in the divorce lost all rights to the house but refuses to sign any kind of quit deed she demands that i refiance. But since this divorce went on the rates have gone up and my credit is ruined. So refiancing seems to be out of the question. From what i understand when i go to sell the house she needs to sign off on it because her name is on the mortgage. She is going to refuse. So what can i do or does the divorce papers cover her signing off? You can email me back at laschmoo@hotmail.com if you want i would appreciate any advice. | |||
pdiggity23 |
Hi All: my situation is similar in that I have excellent credit to this point and haven't missed a payment on anything, yet lenders are not willing to talk to you until you are behind. Furthermore, I am going through a seperation and can't afford the home by myself. I am willing to continue to pay all my other consumer debts, I just need out of the house and don't know if foreclosure or BK would be the best thing to do. Either way, my credit will take a tremendous hit...but the situation is unbearable and I feel like I am throwing away good money if I must walk away from this thing in 3 months anyway. I have a first and 2nd. I told my second I would even be willing to convert that to a personal loan, if they would take the lien off and I could sell the house. I would even give them the surplus from the sale, minus costs...but they won't do it. I thought that would be the responsible thing to do and continue to pay my debts, but no one cares. BK or Foreclosure and everybody loses and gets screwed. | |||
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Name: Jessica Bennet
From: Ohio
Occ.: Financial Writer
From: Ohio
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