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I just found out that the mortgage company that I took out my mortgage with has never filed for the 1st deed of trust. Only me and my deceased husband appear on the deed. Can I sell my house to my son so that only his name appears on the deed and he won't be responsible for the mortgage and they can not take the property? Will I still be personally liable for the mortgage, and if I default they can they still come after the property since even though the mortgage is not secured by the deed? What steps would I need to do this...do I need for my son to get mortgage insurance? Please advise.

adonis · Posted: Sun Oct 02, 2011 7:07 pm Post subject:

Hi singlemom,

You can sell your home to your son. In that case, your son will become the owner of the property. After that he should refinance the mortgage in his name so that he will become responsible for the mortgage payments. If the mortgage is not paid on time, then the lender has the rights to foreclose the property. However, if the lender cannot foreclose the property as the mortgage is owned by someone else, then he may assign the account to a collection agency. However, if the mortgage has not been recorded, then the lender may not be able to come after you for the mortgage payments.

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