How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

Years ago, my husband (he died in 2002) and I put our son and his wife on our deed. Sever

Resolved Question:

Years ago, my husband (he died in 2002) and I put our son and his wife on our deed. Several years later, they went into building homes and lost their everything with the turn down. They had taken a interest only loan out on my home without my knowledge and in order to save my home, I became the guarantor of that loan. I couldn't get a mortgage because of the liens against the house. They filed bankruptcy leaving the house out of it. The loan is still in their names. I have still been paying the loan and the Federal liens have dropped off. State ones are still in their name. I want to know as there is no liens in my name, can I get a mortgage now? I'm 76 years old and have a fifty year old son who lives with me. He has some special needs but has a job and is high functioning. Any help or advise you can give me would be greatly appreciated.

Thank you for your time and consideration.

Marilyn Aurelio [email protected]
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

So sorry to hear of your difficult situation.

I am a lawyer with 25 years experience. While I am not your lawyer and do not represent you, I will endeavor to provide you with legal information through this open and nonconfidential forum.

You may have a difficult time obtaining a loan. Since the house is in your son and his wife's names and the state liens remain outstanding, any mortgage that you obtain would need to satisfy the outstanding liens
Customer: replied 6 years ago.
We did a Quik Claim Deed in 2009, so the house is back in my name but the loan is still in their names. The mortgage would be to pay off that loan and give me (hopefully) a smaller monthly payment.
Expert:  Ellen replied 6 years ago.

You will want to apply for a mortgage with a local lender. If there are no liens attached to the house, you may be able to qualify for new mortgage
Ellen and other Bankruptcy Law Specialists are ready to help you