Financing in Glendale>Question Details

Monet, Other/Just Looking in Glendale, CA

my aunt bougth ahouse and quit claim it to me it is recorded in the county of LA im behind 3 months now will

Asked by Monet, Glendale, CA Fri Jan 4, 2008

a short sale be better if yes who will get the 1099 is it me or my aunt?

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A 1099 may now be a mute point since the Mortgage relief act of 2007: http://www.whitehouse.gov/news/releases/2007/12/20071220-6.html
Who would get it? It would be the mortgage holder as that person is still liable for the mortgage payments regardless of a quit claim. The quit claim deed does not relieve the mortgage holder of their financial responsibilities when it comes to the trust deed.
1 vote Thank Flag Link Fri Jan 4, 2008
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