Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Real Estate Law (https://www.askmehelpdesk.com/forumdisplay.php?f=29)
-   -   Mortgage troubles (https://www.askmehelpdesk.com/showthread.php?t=203033)

  • Apr 6, 2008, 05:33 PM
    keltat78
    Mortgage troubles
    IF the mortgage is in both names and the deed in only in one name because of general warranty deed can the person be removed for not making mortgage payment
  • Apr 6, 2008, 07:03 PM
    excon
    Hello k:

    The loan can be foreclosed upon and then everybody will be removed - from the loan and the house.

    excon
  • Apr 7, 2008, 06:01 AM
    JudyKayTee
    Quote:

    Originally Posted by keltat78
    iF the mortgage is in both names and the deed in only in one name because of general warranty deed can the person be removed for not making mortgage payment


    Let me make sure I understand this - you are saying two people are on a mortgage. (It's a joint debt but both are 100% individually responsible.)

    Only one of those people is on a Deed.

    Can the person on the Deed be removed if the two parties don't make the mortgage payments?

    If this worked everybody would put a mortgage in 2 names, a Deed in 1 name, stop making the payments and live there forever, free.

    In the event you aren't joking, it's called foreclosure and everybody gets removed from the property.

  • All times are GMT -7. The time now is 10:08 AM.