Posted on: 12th Feb, 2010 09:36 am
My house is worth much less than I owe. It needs a lot of work. My friend is walking away and wants me to take over their payments. Their house is worth much more and payments are less than mine. Should I walk from mine and take hers? (Also, I recently went through a bankruptsy and listed the house & 1st & 2nd).
Thanks
Thanks
you cannot simply take over your friend's home and mortgage payment. her lender won't allow it for one thing. well i suppose you might be able to do it if they never found out about it, but don't count on being able to have that loan transferred to you after you walk away from your own home.
what you propose isn't completely sensible - i'd suggest you consult a real estate attorney to discuss this.
what you propose isn't completely sensible - i'd suggest you consult a real estate attorney to discuss this.
Hi purplepeople,
If you've recently went through a bankruptcy filing, then you would not be able to secure a loan in order to take over the payments.
If you've recently went through a bankruptcy filing, then you would not be able to secure a loan in order to take over the payments.
