Posted on: 29th Oct, 2011 03:32 am
I am co borrow on a commercial loan I signed all the papers except for some reason they didn't have me sign the deed of trust. We are now in default and the bank has sent me papers asking me to sign the deed of trust so the can start forcloser I haven't signed anything yet. What happens if I don't sign can they still forclose[/quote]
Hi Guest,
If you don't sign the deed of trust, then they may not be able to foreclose the property, Nevertheless, it will be better if you could contact a real estate attorney and take his opinion in this matter.
If you don't sign the deed of trust, then they may not be able to foreclose the property, Nevertheless, it will be better if you could contact a real estate attorney and take his opinion in this matter.
Personally, I would not cooperate with there request or at least resist it as long as possible within the scope of the law. I also wouldn't just let the property foreclose, there are options that many people don't really understand. It's more than just a short sale or a modification. It's hard to explain, but it's like going to a wealth management company that only does CD's. You wouldn't be a good wealth manager if all you did is open up 1% CD's for your clients. A strategy should be developed around the issues relating to the individual specifics.