Refinancing Home Mortgage
In: Mortgage Loan
24 Aug 2010Here’s one for the books, my husband and I filled out the forms last night and he hunt by mail back in the hope that we take care of my brother’s mortgage on our house. I’m just curious if anyone was any information about a situation as described, please no plaintiff, my brother is a very hard worker and his wife, 2-3 jobs, I am not here to be talks about something that is unrelated to my question has to do.
My brother bought our house was in Iraq have for his wife and children, moved closer to our family used and were renting this place for my husband and I live here now, to pay the mortgage for 3 5 years
My brother is now filing Chapter 7 and his lawyer is sure to use the courts of the country and with the proceeds of debt (logic) can not repay, you have a mortgage, tried and failed. We therefore support a transfer of credit risk. Obviously, if my brother is still responsible for the house, so it’s easy to dwell on my husband and my name, but if he remains in Chapter 7 files and jurisdiction, they can still hold? I know, confusing, thought I would give this picture is, the curiosity is killing me.
To expand on the first response, except to take you and your husband enough credit to this assumable mortgage, the bank will not transfer to you. Since you have already failed to get a mortgage, your chances are very low that this mortgage is assumed by you. The bank in question will not believe your brother is. After the bankruptcy filing, it has created a bad risk. The bank will foreclose the property and hope for others who sell sufficiently creditworthy.
This is about mortgage information questions.
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