Legal Question in Real Estate Law in Illinois
A shared Mortgage
M and my brother purchased a house
he was paying rent. since then he
sometime miss the payments which
results in mye having to pay. Now
my credit is shot to hell because of
this. Is there a way for me to get
out of the mortgage contract and
leave him with the property?
Asked on 10/01/07, 11:21 am
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: A shared Mortgage
The only way for you to get out from under the mortgage debt is for your brother to refinance the property. Since payments have not been made in a timely manner, this may well prove difficult. Your only other option is a partition suit, in which the court can order the sale of the property.
Answered on 10/02/07, 2:36 pm
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