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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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My wife and I sold our house on a short sale in Florida. We

Customer Question

My wife and I sold our house on a short sale in Florida. We began by looking for an apartment rental. Subsequently we looked for an apartment either on a short sale or foreclosure. Due to our credit situation my sister-in-law and her husband offered to help us by applying for second mortgage on a second home they own. It was a gracious act. My wife was all for it and I have know my-sister-law for 44 years. I have no doubt about her integrity, yet her husband I trust, but not with my life.
Since I provided the upfront money, make the payments of the mortgage, pay Home Owners Fee and taxes, which I as an disabled vet do not have to pay property tax in Florida, as long as my name is ***** ***** title. Here lies the problem. Her husband states that the bank will not allow inserting my name onto the title.
I find this difficult to understand. Are there banking laws that would prohibit my name added alongside his on the title? What are the options, if any? The property is in Florida and I believe that someone practicing in Florida, specializing in real estate and knowledge of banking law is probaly best for me.
Regards,
********* *********
*********.com
***********
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Barrister replied 4 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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First let me say the I am not in Florida, but I don't see this as having anything to do with FL banking law, or FL law in general at all..

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Are you saying that they were borrowing money on a property that they own, and you agreed to make the payments for them on that loan in return for you getting the lump sum of the second mortgage money up front?

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And that the husband is saying he can't add you to the deed/title to the property even though you are paying the second mortgage because of some banking rule?

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I don't know if there are any FL experts online right now, but if you would prefer to wait, just let me know and I will opt out and open the question until a FL expert is online..

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thanks

Barrister

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