Posted on: 16th May, 2011 08:30 pm
my nephew signed his house to his mother and father. after they did a quick deed that was transferd back to him but the mortgage stayed in his parent's name. i bought the house from him and now i am trying to get my own mortgage in my name. the title of the house is in my name but i cannot refinance because they said the title was cloudy. they will not sign the papers sent to them by the bank and i cannot get my small refinance of 30,000. what are my options????
Hi bills!
Welcome to forums!
You can take out a personal loan and pay off the existing mortgage on the property. After that, you will be liable for paying off the personal loan and not the mortgage. However, personal loans are available at a higher interest rate.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can take out a personal loan and pay off the existing mortgage on the property. After that, you will be liable for paying off the personal loan and not the mortgage. However, personal loans are available at a higher interest rate.
Feel free to ask if you've further queries.
Sussane
I'd be quite surprised to learn that you're going to be able to obtain a personal loan in the amount of $30,000, frankly.
That's not saying it's impossible, but it's a rather far-fetched idea.
Frankly, you need to clear up the title issues in order rapidly. You don't make mention of having consulted with any attorneys, and that's the first and best thing you can do at this juncture.
Your purchase of the home should never have been effective without first having checked title and learning of whatever issues exist.
Please make your next step in the direction of a real estate attorney's office.
That's not saying it's impossible, but it's a rather far-fetched idea.
Frankly, you need to clear up the title issues in order rapidly. You don't make mention of having consulted with any attorneys, and that's the first and best thing you can do at this juncture.
Your purchase of the home should never have been effective without first having checked title and learning of whatever issues exist.
Please make your next step in the direction of a real estate attorney's office.
