Ask Experts Questions for FREE Help !
Ask
    abbymod's Avatar
    abbymod Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 7, 2009, 09:05 AM
    How to be on a title before escrow ends
    We are three partners to buy a house. One is having a loan, the other one has OUR money on his account under his name. As someone who is not eligible for a loan, can I still appear on the title before the escrow ends?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Nov 7, 2009, 10:25 AM

    Hello a:

    Although you won't be on the NOTE, your name should be on the purchase and sale agreement, the mortgage and the deed. If the closing documents DON'T include your name NOW, and you close that way, you have NO proof that you own ANYTHING.

    If you want your interests protected, hire a real estate attorney. If you hurry, maybe you're not too late.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Nov 7, 2009, 10:31 AM

    If you are using someone else to buy a home for you becausweyou can't get credit, please remember this is considered loan fraud.

    If you are one of the buyers this should be up front on all of the closing documents and you need to be listed as one of the buyers. The loan company will have to be aware you are on the deed.

    Next why does someone have "YOUR" money in their bank account, I would hope you are not letting them use your money to act like they have down payment money when they don't.

    And of course unless you have some legal papers showing this money to them, they could just keep it and you get nothing
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Closing escrow [ 6 Answers ]

Can one negotiate the closing costs of escrow when Presented with the final amount due?

About escrow [ 2 Answers ]

Can I put my rent in escrow? My place is going in to forecloser. I don't think that my landlord will pay on braking the lease. So if I put my rent in escrow. At lease there will be something for me to get from him. Is this a thing I can do?if not is there any thing I can do?

Can't remember book title--fiction, about a girl who ends up as a servant. [ 1 Answers ]

For the life of me, I can not place this vague, vague memory I have of a book I read years ago. I read the book in the 90s, but not sure if that's when it was written. It is a fictional book, possibly children's fiction, or young adult. The main plot was that there was a girl, very beautiful,...

Language in lease ends when lease ends [ 4 Answers ]

Signed a lease for 18 months which states that when lease ends it will go month to month with thirty days notice. When lease ended we did not sign new lease landlord said he would like to keep it month to month. We gave 30 days notice but he said we were to give 60 days instead. Florida statue...

Escrow interest va [ 11 Answers ]

What is the formula for escrow interest in VA

View more questions Search