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Guest

I have a house in maryland under my name and a mortgage for it also, , there is someone that wants to keep it at and price the current price owed in the mortgage and is willing and will keep paying for it and I am willing to give it to that person but want to get my name off the mortgage and the house and everything, and without damaging my credit record anymore how can I do this..help.. the house is underwater ( worth less than what is owed) in present time, what are the options...thanks for the help

adonis · Posted: Wed Jul 07, 2010 9:05 pm Post subject:

Hi Guest,

I guess you want to sell off the property through owner financing. However, as you already have a mortgage on your property, I don't think it would be a good option to transfer the property through owner financing. If the lender comes to know about it, then he will call the loan due immediately. Moreover, as the property is underwater, the new owner of the property won't be able to refinance it though you transfer the property to him or her.

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