Posts Tagged ‘mortgage’
When Is a Mortgage ‘Due on Sale’ Clause Triggered?
Question: Last week we went to an estate planning seminar in our Litchfield Park community center. We now have the forms to transfer our home to a Revocable Living Trust (“RLT”). Our home, however, still has a $220,000 mortgage. In reviewing this $220,000 mortgage, there is a “due on sale clause” in the mortgage that…
Read MoreHow Can I Do It? Adding a Partner to a Property Title
Question: My girlfriend and I have two children and we have been together for almost ten years. Six years ago when we purchased our Glendale home, we purchased the home in my name only because my girlfriend had some credit problems. I want my girlfriend now to legally own our home. Do my girlfriend and…
Read MoreDeed of Home to Son Can Probably be Rescinded
Question: After my husband died I became the sole owner of our Surprise home which we owned free and clear. Two years ago my granddaughter got in a bad automobile accident with no medical insurance. My son said that if I deeded my home to him, he could get a mortgage on my home…
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