Q: What legal issues could arise from signing over a deed when you are about to foreclose?
My son in laws mother is wanting him to sign over the deed to her even though he has to default on the loan because he cant afford it. She lives in the home with him and is a Moor, I have read they do mortgage fraud. She is not wanting to take the mortgage, just the
deed. What legal issues could arise from this for him?
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A: The conveyance would be another reason for default because of the due on sale term. Mother would take subject to the mortgage, and would not stop the foreclosure. She might be able to pay it off though. Fraud is not the issue, foreclosure is.
Terrence H Thorgaard agrees with this answer
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