Though the price of the property has fallen, the lien will remain as a obligation and the borrower needs to pay it off. If you are not the borrower, then you should ask the original borrower to pay it off. Otherwise, the title of the property will not be clear.
Thanks,
Jerry
smooth talk Guest
Posted: Thu Apr 30, 2009 2:43 pm Post subject: guestion on a warranty deed?
If the deed is under my name who do I turn to put it in someone elses name? Say if they plan to buy cash for the property?
to the contrary, a warranty deed should be used in a case like that guest. your buyer wants to know that there is clear title, and a quit claim deed will not provide that. _________________ George M. Akerley
Loan Consultant
860-221-5044