Legal Question in Landlord & Tenant Law in Michigan

Can I just walk away?

I moved into a mobile home 5 1/2 yrs ago. I could not get financed to buy the home at the time. We arranged a ''buy for'' where the owners of the house refinanced the home with the loan exclusively in their names as far as the loan goes. I am on the title, but I do not even have the authority to check the balance on the loan. I still owe about $10k more than the house is worth. Now I want to buy a house. Can I just give it back to the people that are on the loan? Will I be held responsible for the loan? Thanks for your time.


Asked on 4/08/08, 1:05 pm

1 Answer from Attorneys
Renee Walsh LawRefs Nonprofit

Re: Can I just walk away?

You will be held to the obligations of the contract with the sellers. You are not obligated to the mortgagee however you are obligated to the sellers under the contract with them.

If you would like further information or assistance, please contact me via my website at www.lawrefs.com.

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Answered on 4/08/08, 1:30 pm


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