I own a property, I recently had another property go into foreclosure. Is there a way to deed the property that I own into a relatives name i.e. wife or child in order to avoid having a lien placed on the property that I currently own from the losses from the foreclosed property?
1 Answer from Attorneys
If you transfer the property to anyone without your lender's permission, that will trigger the "Due On Sale" clause of your mortgage. It could also be considered mortgage fraud.
Best of luck.*****The above is for informational purposes only and does not create an attorney-client privilege**********