My well froze, the pipes burst in the main house and the furnace in the camper I am living in broke this morning. I want a loan so I can get out of here!
2007-03-09 04:13:17 · 4 answers · asked by Greta 2 in Business & Finance ➔ Renting & Real Estate
Everyone in title has to sign if you are mortgaging the property. If they all agree, go for it.
Personal loan is no problem as long as you don't offer the property for security
2007-03-09 04:16:36 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Are you asking if you can get a loan AGAINST the property that is shared jointly by your father and sister, which is probably actually your dad's property? Without their permission---no. They would have to sign off against the loan if you are using their property as collateral. The reasoning behind that is that if you default on the loan, then the property is seized and that isn't fair to them, now is it?
2007-03-09 12:17:15 · answer #2 · answered by Anonymous · 1⤊ 1⤋
You get a loan against YOUR share only and if you would default the person who loaned you the money would just absorb your share. Have you asked your dad and sister if they want to buy you out? Or you could ask to have the property sold and the proceeds divided.
2007-03-09 12:24:35 · answer #3 · answered by professorc 7 · 0⤊ 2⤋
You can be on the deed of trust and not on the loan itself. If all you signed was the deed of trust and not the promissory note then yes you can.
2007-03-09 12:17:04 · answer #4 · answered by golferwhoworks 7 · 0⤊ 0⤋