Foreclosure in Miami>Question Details

Gil, Home Buyer in Miami, FL

Mortgage in my name Deed in my partners name but he's living in the house ..he stopped paying ..what to do?

Asked by Gil, Miami, FL Fri Jan 23, 2009

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I am an attorney at a firm that has handled cases such as yours. If you like you can give me a call at 305-372-3500 x 16. See our website if you like at http://www.payton-law.com.
Web Reference: http://www.payton-law.com
0 votes Thank Flag Link Tue Jun 9, 2009
I would suggest going straight to an attorney on this matter as no one but an attorney should give you legal advice. There are a couple of attorneys I work with. if you need one let me know.
0 votes Thank Flag Link Mon Jun 8, 2009
Hi Gil,

You can ask your former partner to sign a "quit deed" and get the property title out of their name and into your name. Therefore you have the deed and the mortgage on the property in your name. At that point you can sell, refinance, or whatever you would like to do. Good luck!
0 votes Thank Flag Link Sat Jun 6, 2009
Yes you do want to contact an attorney but you need to work with someone that can speak with your parents to see if they would be opened to a deal. Most of the time they will want to hear their options so they can make the best decisions.

Contact a few investors and agents to see who comes up with the best plan.
0 votes Thank Flag Link Sat Jun 6, 2009
Dear Gil
The problem is that the deed is in his name and the mortgage is in your name. The lender will go after you for the money. I agree with the other agents about getting a lawyer, but when it comes down to it --- Your name is still on the mortgage and his name is on the deed. You will have messed up credit if the payments are not made. The best thing to do is to sit down and talk to your partner to see if you two can work out this problem. Ask him to refinance the home and put the mortgage in his name or see if he'll quit claim the home over to you. You then will be able to rent the home out or move into the home. I'm sorry that you are going through this.
0 votes Thank Flag Link Fri Jan 23, 2009
unfortanately you may want to consult an attorney as you are the one that has all the liability. my additional questions are : are you still living in the house, why would you have a mortgage in your name but deed the property to anyone. you have created great risk for yourself. I would include the attorney but if yiou do not at least You should contact your mortgage company as well, let them know what has happened and se if they can guide you. If you are not living in the house and depending on if you have a lease agreement or what you will have to evict them from the house and still will be repsonsibloe for paying the back, current and future payments. you have your wrok cut out for you, dont hesitate as it may go to foreclosure. good luck with working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Jan 23, 2009
Gil...you must discuss with an attorney because it is certainly a legal matter. linda
0 votes Thank Flag Link Fri Jan 23, 2009
CALL a LAWYER QUICK!!!! Real Estate Agents can't help you here
0 votes Thank Flag Link Fri Jan 23, 2009
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