What legal right do i have if a family member on the same mortgage re-financed and i am not listed on new one?
Jun.08, 2010 in
Foreclosure Lists
very sticky situation. Took over family house due to a foreclosure. Stupid me kept their name on with mine and my husbands. They turned around and re-financed with out my knowlege. What are my legal rights?
June 8th, 2010 at 4:23 pm
Great news!
Who wants to be on the mortgage?! That just means you are liable for the debt. If they refinanced without you, then youa re not liable for the debt.
But make sure you are on the title. That means you are an owner of the property. No, they cannot get a new title without you on it, assuming you were on the old title and have not consented.
Mortgage does not equal title.
June 8th, 2010 at 5:04 pm
I suggest you contact a lawyer and ask those questions, I don’t think its good.
June 8th, 2010 at 5:07 pm
I don’t know but something sounds fishy about this deal. If I were you I would run, not walk, to a good attorney who knows something about real estate and ask them. This is too important for you to just accept advice over the Internet.
June 8th, 2010 at 6:05 pm
I always thought whoever is on any documents (such as mortgages), they all would have to be in agreement. If that was the case, I would love to refinance and kick my ex-husband off of my mortgage (haven’t settled divorce carp yet).
June 8th, 2010 at 6:05 pm
Better investigate how that deal got done, maybe someone missed a beat or did not tell the entire truth all the way through.
June 8th, 2010 at 6:51 pm
I take it that you added your name along with your husband’s name on deed. I also take it that you did not record the deed or you took title in such a manner that allowed the other party get a loan on their share of the property secured on their share of property.
You need a lawyer at this point because you have two issues:
1. Title to a property that is not being recognized by a public title search. You need to establish that you were given title and have rights to the property.
2. The loan is now an issue because if it doesn’t get paid, they will foreclose on you. You might have issues due to the “due on sale” clause if you were to record the deed now.
Regards