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    Msemma123's Avatar
    Msemma123 Posts: 1, Reputation: 1
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    #1

    Jun 21, 2012, 10:26 PM
    Transfer a deed in foreclosure?
    My house is currently in foreclosure. I would like to transfer my deed to my son. Can this be done without an attorney? Do I have to notify the mortgage?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jun 22, 2012, 05:05 AM
    You can't do it period. Whatever made you think you could? What you CAN do is SELL the property to your son. He would need to get his own financing to pay off the mortgage. Or the lender MIGHT let him assume the mortgage if he brings it up to date.

    But you can't just transfer the property without the lender's approval. They have a lien on it that prevents that. Also, since the property is in foreclosure there is pending litigation that would prevent a transfer.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jun 22, 2012, 05:13 AM
    As long as you pay the loan off first you can transfer the deed to who ever you want to. You can not legally transfer the deed to someone else without the loan companies permission, which will not happen.

    If the son wants to assume the debt, I am sure the bank will be glad to have someone start paying.
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