Posted on: 23rd Oct, 2013 01:09 am
Parents refinance a property years back and added son's name to it. They also added the son to the property by quitclaim deed. Now father says that the son did not put down any money. Will the parents be able to reverse the mortgage or the quitclaim deed?
Reversing the mortgage may not be possible in this situation. Also, reversing the quitclaim deed will not be easy unless they can prove any kind of fraud or scam. Whatever might be the case, the son will have 1/3rd rights to the property.
Hi Guest!
Welcome to the forums!
I agree with what Niicss has said. Mortgage cannot be reversed. It will have to be refinanced.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what Niicss has said. Mortgage cannot be reversed. It will have to be refinanced.
Feel free to ask if you've further queries.
Sussane
Well, you cannot reverse the mortgage. However, if you want, you may opt for refinancing.