Legal Question in Real Estate Law in California

What Type of procedure to take ?

My Father wants to buy out (payoff) My X-boyfriends mortgage. The boyfriend is not on title!and never contributed monies,upkeep etc. His name is Only on the(Lender's Note) mortgage! The X-Bf had the credit (I filed a medical bankruptsy)So I no longer had credit.I had the down payment Boyfriend is pending prison time, and is currently restrained from me and the property. My Father has excellent credit and is the process of applying for a loan to payoff the balance of 84,000. My Father does not know what type of loan to apply for? I want him to have half ownership and to be put on tiltle with me Or what option we have, and I would be paying the mortgage payments and he would pay if an hardship fell upon me. I would greatly appreciate any advice or suggestions that anyone would recommend to guide us in the right direction or specific Loan Type? my home is appraised at 200K at the present. Balance of 84,000 is the payoff.

Thank you


Asked on 10/12/05, 9:51 pm

2 Answers from Attorneys
Michael Olden Law Offices of Michael A. Olden

Re: What Type of procedure to take ?

i completely concur with mr whipples answer except your xbf may not be amenimable to signing the necessary papers to expenge is true ownership interest in the porp if it existed -- criminal activity in an individual is not good busines or personal thraits and you, with all due respect have now cost your father a lot of stress, work and money to pull this not so easy task off. if is fully workable if you can prove everything you say in your question. as a real estate attorney for over 30+ yeares this greatly hinges on a paper trail and if your x sees the light from a good, no excellent attorney who is repsenting you maybe he will "co-opperate" -- get an attorney now, yesterday and listen to him/her immediatly

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Answered on 10/14/05, 2:10 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: What Type of procedure to take ?

I would start out having an escrow and title company give you a preliminary title report to verify ownership and existing liens. Then ask them for recommendations for lenders and loan brokers. Discuss your needs with several lenders and follow the best-sounding recommendation.

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Answered on 10/13/05, 12:07 pm


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