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I have another question about the loan I talked to you

about. I was wrong on...
I have another question about the loan I talked to you about. I was wrong on the information that I gave you. I did sign off on a line of credit. It was not a second mortgage on the house.
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Answered in 11 minutes by:
5/14/2018
Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 39,336
Experience: 30 years of real estate practice experience.
Verified

If you have pledged the property as collateral then you can not change the title without the consent of the lender.

This is part of the loan agreement you signed called a "Due on Transfer" clause.

If you transfer the property without the lender's consent then they can demand immediate repayment of all amounts due under the loan.

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Customer reply replied 3 months ago
Ok thank you.

You are very welcome.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (click 5 stars in the rating section on this page). It is the only way that I am credited by JustAnswer for answering your question.

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Loren

Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 39,336
Experience: 30 years of real estate practice experience.
Verified
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Loren
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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