foreclosure looming?

This is a discussion on foreclosure looming? within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; hey there, i bought a house with my sister. the plan was to fix it and sell it. the house ...

Consult Your Own Personal Lawyer Now!
Reply

 

Thread Tools Search this Thread Rate Thread Display Modes
Old Feb 12th, 2008, 06:29 PM   #1
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default foreclosure looming?

hey there, i bought a house with my sister. the plan was to fix it and sell it. the house has been on the market for 16 months now and i don't see it selling anytime soon. we all know the market sucks. i can barely afford to live right now with the mortage payments where they're at and i honestly have become content with just letting the bank forclose. i understand this ruins my credit but i feel like it's inevitably going to happen anyways. the problem is my sister is absolutely against forclosing. she's in a much better financial situation than i am so she can't really see things from my perspective. being co-owner of the house do i have a right to say i'm done making payments? i want to forclose?
  Reply With Quote
Sponsored Links
Doing business in China? Need legal help or advice? Contact our international and Chinese lawyers 24 hours! WORLD Law Direct offers an experienced team of American and Chinese legal professionals.
Old Feb 15th, 2008, 09:15 AM   #2
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default Re: foreclosure looming?

Anyone have any input on this?
  Reply With Quote
Old Feb 19th, 2008, 10:40 AM   #3
Top Level Member
 
annjd's Avatar
 
Join Date: May 2007
Posts: 872

Default Re: foreclosure looming?

If two or more owners cannot agree on what to do with a piece of property they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the property obligation and/or the other(s) may keep it etc.--it is often done-- (This is true in some cases even for equitable owners that have paid various amounts etc., but for various reasons, may not be on title.) You could threaten to take this action if need be. It may cause compromise which is of course what you need here now...
annjd is offline   Reply With Quote
Reply

Bookmark & Share

Tags
None

This thread has 2 replies and has been viewed 232 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

| More

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Format Your Messages
Add Forum to Google Toolbar
Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
Sentencing Looming, Dreier Asks For No More than 12 1/2 Years WSJ_law_blog Money Frauds and Scams 0 Jul 8th, 2009 12:20 PM
Ch 7 and Foreclosure Unregistered Mortgages, Refinancing, Foreclosure 0 Jul 7th, 2009 06:41 PM
With Prison Looming, Nacchio Pulling Out All the Stops WSJ_law_blog Law News 0 Mar 17th, 2009 03:00 PM
Looming custody battle Unregistered Child Custody & Support 9 Dec 20th, 2008 04:21 PM
foreclosure Unregistered Mortgages, Refinancing, Foreclosure 0 May 26th, 2008 11:33 AM


Doing business in China? Need legal help or advice? Contact our international and Chinese lawyers 24 hours! WORLD Law Direct offers an experienced team of American and Chinese legal professionals.


All times are GMT -5. The time now is 03:55 AM.