Posted on: 14th Sep, 2008 07:57 pm
MY MOM BOUGHT A HOUSE IN HAWAII ONLY ON HER NAME, BUT SHE HAS PARTNERS THAT SHE ADD ON THE TITLE, MY MOM IS FACING FORCLOSURE ARE PARTNERS WHO'S ON THE TITLE WILL BE AFFECTED BY FORCLOSURE?
Welcome Guest,
I suppose if the partners are not on the loan, it shouldn't affect them. However, they won't be able to retain the house if the lender is willing to foreclose.
I suppose if the partners are not on the loan, it shouldn't affect them. However, they won't be able to retain the house if the lender is willing to foreclose.
Even if they are not on the mortgage, a public record will show on the partners credit because when the lender does file, they do notify all parties on title. I would have her call the lender and see if they can do a loan modication or to see what options are available to her to get this worked out before this goes much further.