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Guest

Hello,

My husband and i signed a settlement agreement to transfer a property upon refinance of the mortgage by the other party. The other party is now stating they need our ssn# and a signed grant deed to obtain a refi, is this true? also, we were late 2 months in payments but are now current but they are stating because of the late payments no lender will give them a loan. Please help, we just want out of this.

gmakerley · Posted: Fri May 01, 2009 12:19 pm Post subject:

if you think you're confused, you should be in my shoes after reading this. i don't understand what it is you're trying to do.

was this property originally owned by the two of you plus another party? i don't know about your social security numbers, etc. however, if the answer to my question is yes, then what that other party has said is likely true.

SSPINGARN · Posted: Fri May 01, 2009 12:24 pm Post subject:

I HAVE TO AGREE WITH GEORGE ON THIS ONE

Guest

no, they are not on title. we are in a lawsuit where they wanted the property clear and free of any mortgage. settlement was reached where they need to refinance or finance the loan into their name for the full amount that is owed. but they are saying they need our ssn#'s to talk to our mortgage company and want a grant deed signed but not recorded to show the lender that the property will be theres once refinanced. sorry for the confusion.

gmakerley · Posted: Fri May 01, 2009 2:42 pm Post subject:

who is "they"?? and why would "they" be trying to refinance your house??

if this is a purchase transaction, it's a pretty odd methodology.

eric1 · Posted: Fri May 01, 2009 4:15 pm Post subject:

It sounds to me like she was trying to sell her home to someone while tranferring the loan to the buyers.

Confused, was your loan assumable?

smckaybiz · Posted: Fri May 01, 2009 5:21 pm Post subject:

Confused, why couldn't they just try to take out a traditional mortgage to purchase the property from you? Any loans or liens against the property will have to be settled before closing, but it seems like the easiest way for them to "buy you out".

Posted: Sat May 09, 2009 5:08 pm Post subject:

Sound fairly typical to me. House is owned jointly. Retaining exspouse is to refinance to get nonretaining exspouse off liability and this exspouse will deed to retaining exspouse. Done all the time; you'll just escrow the deed which will be filed first followed by the new mortgage. SS# doesn't make any sense though.

Recent two-month deliquency? This should kill the new mortgage.

gmakerley · Posted: Mon May 11, 2009 8:29 am Post subject:

sorry about this, guest, but...

the "other party" wouldn't have much difficulty in determining social security number if that "other party" was one of the current spouses. there is obviously a third party involved in this transaction, and confusion reigns.

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