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pcypress2 · Joined: 30 Aug 2009 Posts: 1 1.29 Dollars($)

If a person is under the age of eighteen and is allowed to sign a real estate contract to refinances and then refinances again in six months when they are eighteen, is the contract voided to the new mortgage company. What happens in a case such as this?

Pam

jenkin7 · Posted: Sun Aug 30, 2009 11:25 pm Post subject:

Hi Pam,

In most states 18 is the legal age to enter into any sort of contract. If a person signed a real estate contract when he was under the age of 18, the contract will not be considered as valid. If he refinances again, chances are that the lender will ask him to sign a new contract.

jheard · Posted: Mon Aug 31, 2009 6:38 am Post subject:

Generally, if a minor signs a contract, it is voidable by the minor. However, if you reaffirmat age 18, the contract becomes binding.

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