Legal Question in Real Estate Law in New York
one party wants off the mortgage
my father helped me get my first house by listing himself as a burrower on my mortgage loan. We are both listed as burrowers. Due to not being able to obtain the credit I need to refinance my home and get him off the loan. He has told us we have one week to get a loan or the house will be sold.? what are my rights?
1 Answer from Attorneys
Re: one party wants off the mortgage
Your question didn't mention the title ownership of the property. Are both of your names on the deed or is it only in your father's name?
If your names both appear on the deed, then your father cannot sell the property without your consent. He would need to commence a partition action with the Supreme Court.
If your name is not on the deed, then he can sell the property without your consent. You may be able to submit a claim for the mortgage payments you've made on his behalf but he can argue that it was in lieu of rent.
You may contact me directly at anytime to further discuss this matter at length.
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