Posted on: 27th May, 2008 01:12 am
i am renting a house. the owner/landlord offered to sign over the house with a payment of $4000. we gave him the payment while still paying him rent. the house would be under my parents name, i have bad credit. he signed a quit claim deed. weeks later he calls me and says the house is in foreclosure because he has not made payments in 4 months! all this time i have been paying him rent what should i do? who is responsible for these payments? also, i found out he owes taxes too!!! please help!!! can i get out of this??
Hi Ymore,
He signed a quit claim deed to transfer the title in your father name. Is it right? If so, then you or your father is not liable for any mortgage payment for that house. The landlord whose name is on mortgage deed is the liable person
He signed a quit claim deed to transfer the title in your father name. Is it right? If so, then you or your father is not liable for any mortgage payment for that house. The landlord whose name is on mortgage deed is the liable person
Although the above post are true, you are now responsable for any taxes owed on the house, even if they were from back before you owned the property. Another big problem is that even though you are not responsable for paying the morgage, the morgage company does have a lien against the property and can forclose on it if they wish unless you do decide to pay it off. You might be out of $4000 dollars if this is the case. You may want to contact an atty but that is going to cost you even more money.
It sounds like you got scammed pretty big time. Did you write up any kind of contract with the landlord before taking over the title to the property? You may also want to check with your local county court house to see if there are any other liens on the property for unpaid utilities or construction work.
It sounds like you got scammed pretty big time. Did you write up any kind of contract with the landlord before taking over the title to the property? You may also want to check with your local county court house to see if there are any other liens on the property for unpaid utilities or construction work.
