12-12-2008, 03:21 PM | #1 |
Followed the crowd over.
Join Date: Nov 2008
Location: Hawaii
Moto: '07 Yahama R6
Posts: 911
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Real estate/co-signing Q
Wondering if there is anything either/both parties need to be aware of...
Situation is Heather has 2 homes/2 mortgages. She wants to sell one house for what she owes (less than market value) to her friend Sandy. Options are: 1. Heather can re-finance loan to make it assumable. Sandy takes over the loan. 2. Sandy can apply for loan to buy home, but has no down payment. Heather will co-sign and sign the title to the house over to Sandy. |
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