Hello,
Yes i am desperate. I am being threatened with foreclosere. I have an owner financed loan. I have not received proper notification and as of friday it was not posted in paper.


Here my delima. I am behind. I cannot reinstate other than to just start paying the regular mortage( High heating bills and family and intermitent job this winter really socked me)

He threatened foreclosure with a sort of half proper letter from lawyer. 3 weeks ago.
Some one approached me to do some arrangement as follows

{YFr_ChuckFeb 13, 2006, 05:23 PM
Most of the grants do not allow for sale of the house and do not allow for someone to assume the loans.

I am thinking what the realitor wants to do, is let the current owner give you a quick claim deed to his right to the property, but not report the sale to the mortage company but merely let you keep paying them under this mans name. Since any lien not cleared up at transfer of property stays valid, the quick claim deed would not make the lein invalid.}

I found this above post and it describes what has been proposed. It is risky to me if I am correct because the mortage is still in my name.


My question is, What reclaiming of the house rights would I have if this person walked away and defaulted on the payments?
They are only giving me the money to basically reinstate the loan for them and one months free rent then out I go.

My hands are tied with family problems so I cannot take out a second mortage on a jointly owned home in another state. I cannot think of any thing and have no one that would help.

Thank you