I am a co-borrower on a mortgage with my friend. Both our names are on the mortgage. Only his name is on the deed. My name was also supposed to be on the deed but is not, an error on part of the attorney at the time as all documents were submitted properly when the house was bought. My friend has not been able to pay his share of payments and I have been paying the full monthly payment for quite a while. I found out that my name was not on the deed when recently trying to refinance the mortgage into my name only. I am told by my refinancer that my name needs to be on the deed before we can proceed. Other advisers say the refinancing and deed can both be put into my name all at once. Which is true? Also do I have a case for an improper mortgage?
Get the deed fixed and refinance at the same time. I work with people all the time doing this. I know a very good mortgage agent that can assist and deal with these processes all the time. Contact a competent attorney who can work you through this process.
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A deed from your friend to you and himself will fix the problem. It can be filed at the same time that the new mortgage is recorded. It is a very simple thing to do; any real estate attorney can prepare the deed very easily.
You represented by an attorney who made this error, so you need to go back to that attorney and get it faxed.
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I agree with the answers supplied by my colleagues. Just be sure an attorney who is well versed in real estate handles the matter for you.
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