More details to this question:
My mothers friend was about to lose their home. They were going to just move out and let the bank take it. Instead, my Mom came to an agreement with them to let her move into the own and pay the note and all the bills. They have told her that once the home is paid off, it will go into her name. Is this legal? Does she need to hire a lawyer to draw up an agreement between them to cover her if they decide to take back ownership once the balance gets low?
1 ANSWER
When something sounds too good to be true, it usually is. Banks don't usually operate like that.
This scheme sounds really, really fishy.
Not minnow or goldfish fishy. Great White Shark fishy.
Your mother should hire a knowledgeable and experienced lawyer right away. A few hundred bucks now might save her thousands of dollars later.
Answered on Jan 14th, 2024 at 11:12 AM
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