Posted on: 21st Apr, 2010 04:45 pm
My mother who is a retired person was supposed to be my co-borrower when I applied for well fargo mortgage. Yet, I was a victim od predatory lending practices and during the closing procedure my mother became the sole borrower in the mortgage application and they used my income, falsified an employer information for her. My attorney at the closing who was recommendated by the seller( big mistake) didnot well represent me and protect my interests;lied to me and claimed I could changed to my name afterwards. I been paying the mortgage since day one and been claiming it in my taxes returns. How can I fix this?
hi pgnsmdp,
you'll have to refinance the loan in your name. this will help you in removing your mother's name from the mortgage deed. however, in order to do so, you should have equity in the property. apart from this, you should have stable income and a good credit score to get a loan. also, you will be liable for paying the closing costs as you refinance the mortgage.
you'll have to refinance the loan in your name. this will help you in removing your mother's name from the mortgage deed. however, in order to do so, you should have equity in the property. apart from this, you should have stable income and a good credit score to get a loan. also, you will be liable for paying the closing costs as you refinance the mortgage.