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sowega · Joined: 10 Jun 2009 Posts: 1 1.34 Dollars($)

I cosigned a home mortgage with my child who is now in a divorce. Due to their loss of income I am making the payments now. The house in in the name of my child with me as cosigner. The spouse's name does not appear. Since the child has defaulted to me on the payments can I take over the house and sell it?

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

sowega

Welcome to the forum.

If both of yoru name is on the deed then you need to get atelast quit claim deed from your child before you can sell the property.

Or when you sell the house, you need to get his or her signature

Good luck and feel free to aks

Realgeni
-Good credit is easy to achieve, as long as you use it responsibly.

savior70 · Posted: Wed Jun 10, 2009 9:47 pm Post subject:

Hi sowega,

You can sell the house only if you have the title in your name. If the title is in your child's name, you need to change the title in your name using a quit claim deed. As there is an existing mortgage on the house, you need to get the approval of your lender before you can sell the house.

gmakerley · Posted: Thu Jun 11, 2009 8:25 am Post subject:

the answer to your question, sowega, is "no."

your position as cosigner is an obligee on that mortgage, just as your child's was. when you signed that note, you agreed that you are fully responsible for payments. in other words, you knew what you were getting into. even if you haul your child into court to try to force a sale of the home, i would think that your knowledge of the consequences of a default by the primary borrower would prevent you from being successful.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

i believe you would have needed an agreement written up prior to the closing about the obligations of each party...at least that is how I saw one such person do what you are looking to do

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Can a cosigner take primary ownership of a home