So a couple months ago my mom deeded her house with my brother as joint tenants, and deeded the condo with me as joint tenants to avoid probate. My mom name is the only one on the mortgages, she pays the mortgage for both properties.
We both are her caregiver, him more than I, that is why I have the condo & he gets the house.
Recently, he started a refinance on the house & his friend that is doing the refinance said to just combine to 2 loans into 1 by paying off the condo. (condo $35,000 & house $135,000). So basically, it's going to be a total of $170,000 on the house.
I'm concerned because he wants me to just owe him the $35,000 with only a verbal agreement.
I personally, don't want to owe my brother $35,000. I would much rather owe a mortgage company than my brother. Eventually I'm going to be expected to assume that condo loan, but he says I don't have a say in what is being done with that loan, even though I'm basically going to be the one expected to pay it.
While she is alive, how do I determine how much of that refinanced payment is going towards the condo that she is paying still?
Isn't there something I should get in writing just to cover myself?
You should speak to an attorney immediately and get answers top these questions.
This answer is for general purposes only and does not establish an attorney-client relationship.
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