Posted on: 22nd Mar, 2010 03:23 pm
I am involved in a default as co -signer on step daughter mortgage. My house is paid off and judgment has been filed but in wrong county. I would like to take back mortgage so my son can purchase my home and save what i have worked 35 years for.
Hi glass,
If you sell off your property now or transfer it to your son, it would be considered as a fraudulent act by the creditors. You can get penalized for it as the creditors have already filed a judgment. I would suggest you to contact a real estate attorney and take his opinion in this regard. He will be able to guide you in a better way in this regard.
Thanks
If you sell off your property now or transfer it to your son, it would be considered as a fraudulent act by the creditors. You can get penalized for it as the creditors have already filed a judgment. I would suggest you to contact a real estate attorney and take his opinion in this regard. He will be able to guide you in a better way in this regard.
Thanks