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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10101
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Is it possible to sell my house to my sister-in-law if she

Customer Question

is it possible for me to sell my house to my sister-in-law if she filled for bankruptcy years ago, is it up to the mortgage company or is there a creative way to help her to purchase it....I live in the Dallas Texas area or does she have to qualify for a loan
Submitted: 5 months ago.
Category: Tax
Expert:  Lane replied 5 months ago.

Hi,

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Depending on how long it's been since she filed, the bank may underwrite her. Sometimes after a chapter 7 people have an easier time getting a loanbecasue of the fact that all of the debt sh was under has now been erased as a part of the fresh start initiative..

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She should start by sitting dow with a local or regionl bank (or even better sometimes a credit union). They can take a look at the credit bureau information with her and let her kow where things are.

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Can you tell me what objective is? DO you need the money? (or is possibly financing the purchase FOR her by holding the note youself - and have her make the paments to you).

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Let me know more about wjat you're trying to do and we can go from there.

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Lane

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I have a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986

Expert:  Lane replied 5 months ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

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Let me know…

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Thanks

Lane