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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: walk away when not on mortgage note but... Posted by tarangihbor on November 02, 2009 at 1:56 PM In Reply to: Re: walk away when not on mortgage note but... posted by Rick, the Probate Guy on November 02, 2009 at 8:31 AM : If what you say is accurate, as a CA property owner in your shoes, I'd probably walk, too. : However, this is really a legal question, and best answered by your attorney. What does your attorney say about this? Not a word from attorney yet. We were told early on by attorney, before the other party signed mortgage note, that I'd have to have it refinanced into my name upon that party's death if the life insurance did not pay out for whatever reason, and I wished to KEEP THE PROPERTY, which I don't. Well, that reason happened, as the life insurer is gone, along w/ the policy. And with inflated prop values and tight credit market, there's no way I'm going to attempt to put a property I don't want into my name now. To the bank, it seems I don't legally exist to go after since I did not have my name on the mortgage note and there were no seconds, no HELOCS, nothing. Only a quit claim deed signed. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : If what you say is accurate, as a CA property owner in your shoes, I'd probably walk, too. : : However, this is really a legal question, and best answered by your attorney. What does your attorney say about this? : Not a word from attorney yet. We were told early on by attorney, before the other party signed : mortgage note, that I'd have to have it refinanced into my name upon that party's death if the life : insurance did not pay out for whatever reason, and I wished to KEEP THE PROPERTY, which I don't. Well, that reason happened, as the life insurer is gone, : along w/ the policy. : And with inflated prop values and tight credit market, there's no way I'm going to attempt : to put a property I don't want into my name now. To the bank, it seems I don't legally exist to go : after since I did not have my name on the mortgage note and there were no seconds, no HELOCS, nothing. Only a quit claim deed : signed. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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