New York | Real Estate Law
Legal Question
Cosignor of Friend's residential property
In December 2004 I cosigned for a loan to help a friend maintain her residential property. The deed and
mortgage were in my name until we did a''Quitclaim'' in Nov. 2005and now the deed is in her name. She has not made a single mortgage payment; in 2006 she filed aChapter 13 Bankruptcy .Her bankruptcy was dismissed in January 2007 because she defaulte on her agreement. Consequently, the house is in foreclosure and has been posted in my local newspaper to be up for auction on 3/7/07. My questions are as follows:
Can I sell the house even if the deed is in her name?
What legal recourse can I take when the house is sold so that she is responsible for any payments after the house is autioned ?
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Read More Answered By: Bunji Fromartz |
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