Real estate/co-signing Q

MissHell · 12-12-2008, 04:21 PM

Wondering if there is anything either/both parties need to be aware of...

Situation is Heather has 2 homes/2 mortgages. She wants to sell one house for what she owes (less than market value) to her friend Sandy.

Options are:
1. Heather can re-finance loan to make it assumable. Sandy takes over the loan.

2. Sandy can apply for loan to buy home, but has no down payment. Heather will co-sign and sign the title to the house over to Sandy.

12-12-2008, 04:21 PM	#1
MissHell Followed the crowd over. Join Date: Nov 2008 Location: Hawaii Moto: '07 Yahama R6 Posts: 911	Real estate/co-signing Q Wondering if there is anything either/both parties need to be aware of... Situation is Heather has 2 homes/2 mortgages. She wants to sell one house for what she owes (less than market value) to her friend Sandy. Options are: 1. Heather can re-finance loan to make it assumable. Sandy takes over the loan. 2. Sandy can apply for loan to buy home, but has no down payment. Heather will co-sign and sign the title to the house over to Sandy.