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House swap and foreclosure question

Discussion in 'Liens & Encumbrances' started by matt8981, Aug 3, 2011.

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  1. matt8981

    matt8981 Law Topic Starter New Member

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    My wife and I live in a house that we can no longer afford due to having two children. My neighbors house is in short sale and the realtor is our other neighbor. the house in short sale is SIGNIFIGANTLY cheaper and my wife already got pre-approved for a loan in only her name for the short sale house.

    Our current house is in only my name on both the deed and the loan. We weren't married when we bought the current house so she isn't on any paperwork at all. However the realtor said that since we are married now I will have to be on the deed to the new house but not the loan.

    If we cant sell our current house and it forecloses what kind of problems could I be looking at with my name on the deed to the new house?
     
  2. army judge

    army judge Super Moderator

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    You can't get the kind of help you need online.

    I suggest you speak with a local attorney or two or three.

    Whatever you do, don't listen to a realtor.

    Realtors are like used car salesmen.

    They want to make a sale.

    Don't trust important legal matters such as this to strangers.

    You really need your own lawyer to review your specific details!!!

    Short sale homes are fraught with a myriad if problems.

    Proceed with caution.
     

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