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Confusion

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emp32 Joined: 18 Oct 2009 Posts: 1 1.30 Dollars($)	Posted: Sun Oct 18, 2009 2:14 pm    Post subject: Confusion Like 0 Dislike 0 my friend and I bought a property, he is the ONLY person on the mortgage and after he bought it he added my name to the deed within a dual member LLC. Now he is foreclosing on the property. Do I have any liability? Will the bank let me purchase it at a short sale? Can I get my name off of it at this point?
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Sun Oct 18, 2009 2:16 pm    Post subject: Like 0 Dislike 0 At this point you do not have any liability for the loan, but since your name is on the house, hey may not allow you to buy the house in short sale You cna do a quit claim deed and get your off the property Make sure to notorize it and record it in the county office

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