Posted on: 22nd Dec, 2010 09:00 am
I helped a friend keep their house from going into foreclosure by paying late mortagage payments. They are willing to deed the house over to me as security for making the late payments. What type of type of deed do I need / use and where can I get one today. I live in Texas.
Quit Claim deeding the property to you would be totally improper.
If the lender found out about it, they can call the loan due in full.
You may not change title to a property if someone has a mortgage on the property without asking the lender if it is ok to do that.
If the lender found out about it, they can call the loan due in full.
You may not change title to a property if someone has a mortgage on the property without asking the lender if it is ok to do that.