What is the name of your state? Oregon
I got a call yesterday from a customer that said his house is in foreclosure and he wants his name off title and the loan. I'm thinking the only way to do that is refi or sell. However, his cosignor on the loan filed C7. Can he still sell his portion of the property since he is not the one who filed BK? He is not married to his cosignor. Do I need to find out how title is held?
I have already asked my PB and she doesn't know the answer to this. She said its a legal question. So please don't answer with, "you're a real estate broker how come you don't know this".....type stuff ok?
I advised the customer to seek legal advice, but I would just like to know for my own future knowledge. Thank you.
I got a call yesterday from a customer that said his house is in foreclosure and he wants his name off title and the loan. I'm thinking the only way to do that is refi or sell. However, his cosignor on the loan filed C7. Can he still sell his portion of the property since he is not the one who filed BK? He is not married to his cosignor. Do I need to find out how title is held?
I have already asked my PB and she doesn't know the answer to this. She said its a legal question. So please don't answer with, "you're a real estate broker how come you don't know this".....type stuff ok?
I advised the customer to seek legal advice, but I would just like to know for my own future knowledge. Thank you.