NLIC.org

Marilyn Said:

Sold our house, title company paid off our investment property by mistake. What now?

We Answered:

The title insurance is on the hook for the mess it made. I would advise you to seek legal council. See a real estate attorney right away.

Hilda Said:

I need information about transferring the title of the house I am buying.?

We Answered:

One thing to keep in mind.
If this owner is having financial troubles, they could stop paying the mortgage.
The bank could foreclose on the home, and you will be forced out of the home.
Please, please get a real estate attorney to draw up all the legal paper work.
How about if you just rent for a couple of years??

Jared Said:

My name is on the house title, not on the loan. Do I refinance?

We Answered:

Hi,

I am a mortgage advisor. From what i know, if your on the the title (deeds) then you HAVE to be on the mortgage. This is the only way a lender will lend. This is to protect the lender incase the person on the mortgage defaults. So basically you are both liable for the full amount of mortgage.

Hope this helps.