Legal Question in Real Estate Law in New Hampshire
preforclosure
I co/own property with my name only on the deed not the morgage ,the payments are 3 months behind and is about to forclose . I want my panter to sign off . And I want to co/buy with a family member. how would I go about doing this before it goes into forclosure
2 Answers from Attorneys
Re: preforclosure
The rights of ownership are separate from the duties in the mortgage. The starting point would be an examination of the documents by an attorney. I'm assuming that your partner is willing to sign necessary documents and walk away from the transaction. Next, you and the co-purchaser would need to have enough money or borrowing power to pay off the existing mortgage.
I think you would benefit from meeting with an attorney.
Re: preforclosure
The rights of ownership are separate from the duties in the mortgage. The starting point would be an examination of the documents by an attorney. I'm assuming that your partner is willing to sign necessary documents and walk away from the transaction. Next, you and the co-purchaser would need to have enough money or borrowing power to pay off the existing mortgage.
I think you would benefit from meeting with an attorney.
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