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Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 29016
Experience:  30 years experience representing clients.
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My son has had financial problems and I want him to quit

Customer Question

My son has had financial problems and I want him to quit claim the house to me and then i will get another mortgage Co. to finance the house to pay off the loan. Any penalties, late fees, etc. will be paid by me immediately after I find out if this process is legal.
Submitted: 3 months ago.
Category: Legal
Expert:  Loren replied 3 months ago.

Good day. I am Loren, a licensed attorney, and I look forward to assisting you. I am sorry to hear of your dilemma. I realize how frustrating this is for you and I hope to provide you information which is accurate and useful, even though it may not be the news you were hoping to get.

Your son can not change the title to the property without the approval of the lender. Otherwise, they will have the right to foreclose based on the change in title.

If they foreclose, your son could owe thousands of dollars in attorney fees and other collection costs, in addition to the unpaid balance.

Expert:  Loren replied 3 months ago.

I realize this is probably not the answer you were hoping to receive. Also, please remember that this is not a moral judgement on my part. As a professional, however, I am sometimes placed in the position of having to deliver news which is not favorable to a customer's legal position, but accurately reflects their position under the law. I hate it, but it happens and I only ask that you not penalize me with a bad or poor rating for having to deliver less than favorable news.

Expert:  Loren replied 3 months ago.

If you have no further questions please remember to rate my service so that I am credited by JA for answering your question and also so that I may close the question. Thanks.

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