Posted on: 12th Nov, 2010 07:44 am
2 Individuals. Not married. She has agreed to sell me her interest in the home. She insist that the lending / title company makes the check out to me and I give her a check directly. I was going to have lender / title company make the check out to her. Could anyone tell me why she would insist on the lender making the check out to me and not her. I kind of got screwed when I went in the house deal with her (she put her name on deed/ title but not on the loan). I just want to make sure I am covered in every way possible. Thanks.
Hi BInVirginia,
You should ask the person to sign a quitclaim deed and transfer the property to you. Once you become the owner of the property, you can refinance the mortgage in your name. This will make you the owner of the property as well as the mortgage.
Thanks
You should ask the person to sign a quitclaim deed and transfer the property to you. Once you become the owner of the property, you can refinance the mortgage in your name. This will make you the owner of the property as well as the mortgage.
Thanks