Posted on: 24th Jul, 2011 10:13 pm
i have been giving the lady that has a mortage in her house money to pay her mortage in return for me living in the house, then the other day she slapped a for sale sign in the front yard, i in turn went to her place of employment and sked her and she gave me no real legit reason but stated that i was late on my payemnt (her mortage) so i went and got the money gave it to her and she has not said one word to me sense, now the question i have is can she sell it sense there is a mortage on it? is the deed to the house in the mortages hands or how does all this work? :evil:
Hi Guest,
If the property deed is in the name of the lady, then she can sell off the property though there is a mortgage on it. After she sells off the property, she can use the sale proceeds to pay off the mortgage in full.
Thanks
If the property deed is in the name of the lady, then she can sell off the property though there is a mortgage on it. After she sells off the property, she can use the sale proceeds to pay off the mortgage in full.
Thanks
Guest, you didn't really describe what kind of relationship you have with this lady, but I have to assume that you're really her tenant and nothing more. That being the case, she has no need to advise you of her intentions concerning the home. Apparently, your "rent" was the mortgage payment.
Am I close to the truth, or is there more to it?
Am I close to the truth, or is there more to it?
>>the question i have is can she sell it sense there is a mortage on it?
Yes.
Yes.
