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mortgage current but not in title holders name

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corinnas Joined: 02 Mar 2009 Posts: 6 4.09 Dollars($)	Posted: Mon Mar 02, 2009 9:06 pm    Post subject: mortgage current but not in title holders name Like 0 Dislike 0 I have a title to a property which was bequeathed to me by my late brother. However, the mortage is still in his name. The loan is in good standing as I am depositing payments into it. I am having a difficult time transferring the mortgage to myself because I do not live in the U.S. Can I sell the property? Do the banks care whose is the owner of the account if the house is sold?
evolovik26 Community Expert Joined: 15 Aug 2007 Posts: 537 Location: Minneapolis 28.93 Dollars($)	Posted: Mon Mar 02, 2009 10:11 pm    Post subject: Like 0 Dislike 0 So long as you have title you can sell the property. Whatever is owed to the bank will go to them and you will get whatever is left over. _________________ Eugene Volovik Home Loan Consultant Countrywide 612-481-3127 Conventional, FHA and Commercial Lending in 48 states
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Mon Mar 02, 2009 11:57 pm    Post subject: Like 0 Dislike 0 Hi corinnas, I agree with Eugene. You will definitely be able to sell off the property as the deed is in your name. You will have contact the lender and inform him that you want to sell the property. Then you can list the property in the market. _________________ Procrastination is the enemy of your financial success
corinnas Joined: 02 Mar 2009 Posts: 6 4.09 Dollars($)	Posted: Tue Mar 03, 2009 4:42 am    Post subject: Like 0 Dislike 0 Thanks for the answer. I kind of heard that they don't care as long as they get the payment (and of course because I am the title holder anyhow). The estate is closed and there is no executor anymore so I don't know if I have the authority to talk to them regarding the loan, not being the formal account holder.
Alessandro Guest	Posted: Tue Mar 03, 2009 4:55 am    Post subject: Like 0 Dislike 0 Hi corinnas, As you are on the title, you definitely have the authority to talk to the bank regarding the loan as well as the sale of the house. Unless you talk to the bank you will not be able to go ahead with the sale.
Alexwebmaster Guest	Posted: Tue Mar 03, 2009 7:44 am    Post subject: Hello webmaster Like 0 Dislike 0 Hello webmaster I would like to share with you a link to your site write me here preonrelt@mail.ru
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12330 Location: bloomfield, ct 50.03 Dollars($)	Posted: Tue Mar 03, 2009 8:28 am    Post subject: Like 0 Dislike 0 corinnas, contrary to what alessandro told you, it is not necessary for you to contact the lender prior to selling that house. the only needed contact will be to arrange for payoff of the mortgage, and that should be handled by the attorney handling the transaction. of course, they'll need the information about the mortgage (account number, etc.). _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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