Recent Answers to Mortgage Loan Agreement Law Questions

David H.

Answered Mar 18, 2022

Hello, my name is David. I am a licensed attorney in Michigan. Was the loan discharged or was the house foreclosed on? They should have sent a letter. However I think I can help find the right group in the bank and get a letter explaining what happened. You may also want to look at your credit they may have the phone number and information there so you can reach out to Morgan Stanley. This is something I can help you with that would take a couple of hours, but I can't be certain until I look into it a little bit more & gather more information from you. Thank you for the opportunity to respond to your question. Attorney Dave.

Ryan W.

Answered Mar 1, 2022

Whether there are any repercussions depends upon the circumstances surrounding your purchase. For example, whether or not a mortgage exists can affect the situation. If you are on the mortgage, it would not matter what agreement you sign with your boyfriend, you are still on the hook for the mortgage unless you can negotiate with the lender to remove yourself from the mortgage. It may require your boyfriend to refinance. You are certainly making the right move by having an attorney review any agreement between you and your boyfriend. You just need to consider the third-party lender and how that may also affect you.