My brother signed over to me the townhome I live in in the form of a warranty deed. he owes 13000. the house is worth 280,000.
2 attorney answers
This is tough because I am assuming you are not on the mortgage. If that is the case, the lender will not communicate with you. So you will need your brother's assistance to apply for a loan modification (one way to stop a foreclosure). The other option is to catch up the loan or re-finance in your name. Finally, Chapter 13 bankruptcy will stop a foreclosure and allow you to catch up the mortgage, but it will hammer your credit if you file.
Please note this is to be considered general advice and not legal advice about any particular situation. The answering of any question does not...
You need to speak with a foreclosure attorney immediately. If it isn't possible for you to pay the arrears you might be able to find an investor willing to pay it in exchange for a return when you sell the property. Then you need to quiet title. Foreclosure sale will bring you nothing if your title is not perfected.
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