| |  |
| Home | Law Advice | Insurance Advice | Community |
| |
| ||||||||||||
| |||||||||||||
| | |||||||||||||
| |||||||
| | |
 |
| | LinkBack | Thread Tools | Rate Thread | Display Modes |
|
#1
11-14-2006, 10:23 AM
| |||
| |||
 Mortgage getting neglectedWhat is the name of your state? Arizona I own my primary residence with 2 other people. 1 is on the mortgage with me and the other is only on the title. The one on the mortgage went to prison and is no longer paying their share of the mortgage. Also, this person has skipped paying their share quite a few times over the years and even let it go into forclosure, and I had to pay all of the money to get it back out of forclosure. I want to know what my options are for dealing with this person. Can I somehow forclose on his interest in the home? or what else can I do?[b]What is the name of your state? ArizonaWhat is the name of your state? |
|
#2
11-14-2006, 10:25 AM
| |||
| |||
| No, you cannot foreclose on his interest. When you took out that mortgage, nowhere in the documents does it say that you are responsible for x%, and he is responsible for y%. You are responsible for the entire bill if the other party cannot make payments.
__________________ My new signature: Originally Posted by arazi Quote:
|
|
#3
11-14-2006, 06:27 PM
| |||
| |||
The one on the mortgage went to prison and is no longer paying their share of the morYou should ask the person in prison to deed off the property, so you can refinance (to save money or whatever reason that convinces person to deed off...) If you have 12 months since the NOD (foreclosure notice,) you could possibly refinance the mortgage. Without title rights & no mortgage liability, you can move forward. Your credit is affected by any jointly held credit accounts. seperate yourself before more damage is done to your credit. Good luck! |
|
Linear Mode
