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Any ways to get the mortgage out of my name as not to aafect my credit?

Posted on: 30th Jun, 2009 07:22 am
My ex husband and I are both on the mortgage for a house we own in Texas. He is filing a chapter 13 and we have renters in the house that aren't paying the full payment. Is there any way for me to get released from this with out it affecting my credit? Do the renters have any rights do to the fact they signed a lease option agreement that holds until October of 2009?
"renters in the house that aren't paying the full payment."
"do the renters have any rights do to the fact they signed a lease option agreement."

if there is a lease, isn't non-payment covered in it? a lease is meant to protect the interests of all concerned (owner, tenant). what kind of lease did you all sign?
Posted on: 30th Jun, 2009 08:38 am
we signed a lease option agreement effective until oct of 09. they pay 900 of the 1100 dollar mortgage payment a month and obviously have the option to by before or in oct. of 09. however my ex is filing a chapter 13 bankruptcy and once he files the house in that it will go to foreclosure, regardless of the lease option for the renters as he and i are on the mortgage loan
Posted on: 30th Jun, 2009 08:51 am
i'd think that the lender would need to know about the terms of this lease.
Posted on: 30th Jun, 2009 08:59 am
the lender does know the terms of the lease. They asked if we were going to evict them based on late or non payment. However the bottom line still remains. The lender does not care about the renters, they only care about getting paid and once my ex files the chapter 13, they will see their only option is to foreclose. I am going to see if they are able to exercise their agreement with the buy option before the foreclosure. I think it's the only way out of the mess or they will have to find a new place to live.
Posted on: 30th Jun, 2009 09:11 am
the bottom line does remain, but the lender is going to be impacted by the tenant's presence. no matter whether a foreclosure takes place or not, the tenant cannot be put out of the property by the lender at that time. there are statutory rights (i cannot cite them) that accrue to a tenant just as they would to an owner before anyone can be put out of the property. the lender cannot simply ignore the fact that there are tenants.
Posted on: 30th Jun, 2009 09:29 am
I thing you dont think need to pay payment because you are renter.
Posted on: 03rd Jul, 2009 06:49 am
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