R
RochelleGonzalez
Guest
My grandfather co-signed for me on the purchase of my home 5 years ago, and again for a refinance 2 years ago. He is now let his son, my uncle, take over his financial affairs. I received a letter from my grandfather stating that I have to either refinance my home and remove him from the loan and title, or sell the home and give him his share of the proceeds.
There is no equity in our home and we probably couldn't even break even if we got realator involved. We are not able to refinance due to our credit, I have three letters of denials from finance companies, and we do not even want to entertain the possibility of selling our home. He Has helped us with the monthly payments and now states he will not do that anymore.
We are contiplating bankruptcy due to some of our other bills, and some major medical bills, if we bankrupt could that stop him, or does he even have any right to request what he is requesting? Please let me know!
p.s. we are all on title as joint tenants. If he passes away does the property automatically revert to my husband and I, or can he will his share to my uncle?
There is no equity in our home and we probably couldn't even break even if we got realator involved. We are not able to refinance due to our credit, I have three letters of denials from finance companies, and we do not even want to entertain the possibility of selling our home. He Has helped us with the monthly payments and now states he will not do that anymore.
We are contiplating bankruptcy due to some of our other bills, and some major medical bills, if we bankrupt could that stop him, or does he even have any right to request what he is requesting? Please let me know!
p.s. we are all on title as joint tenants. If he passes away does the property automatically revert to my husband and I, or can he will his share to my uncle?