How can I protect a house mortgage under a relative?

I purchased my home 5 years ago. I had just graduated, no employment history and new credit, so my mother applied for the loan in fulI for a conventional/30. I am the only one in the title.





I have been paying for the house hoping I could refi to my name, but now the house lost value so I can't. The house lost about 14% value, but it is still a good deal to keep for now and not an opcion to let go, its not my credit.





I dont have trouble keeping the home and the payments, but I want to protect the property in case my mother gets into legal troubles, or bankrupcy in the future... or specially if she passes away. She is married to my dad, but the loan is on her name only.





What legal docs I should file for to retain the rights and obligations of this home? What type of lawyer can help me with this?How can I protect a house mortgage under a relative?
I would venture to say that the mortgage on the house is in both names, with mother as a cosigner.. Nothing short of release of her obligation from the bank would protect your property. Quit claim deed would only release your MUM from ever claiming the property. but not her creditors. Talk with the bank and explain the situation, I am sure you are also on the mortgage, and you just don't realize it. The bank would normally not allow a deed to not have at least one mortgagee on the title.





Barring that, then you need to see an attorney.. Or let things stand as is until the housing market turns around.How can I protect a house mortgage under a relative?
She can file a quick claim deed turning over to you. You then supply it (or a certified copy) to the mortgage company and they then turn the loan over in your name.





That is how it is done in divorces. So that when the one that got the house let's it get foreclosed, it doesn't take down the innocent person (if they did the quick claim and filed it). Otherwise when\if it gets foreclosed, then the innocent gets screwed as bad no matter how much talking they do to the mortgage company.





I saw it happen to my next door neighbor.
Contact a real estate lawyer and ask him for advice.





Just for the record, the person above's advice may be suspect, considering she is telling you about a 'quick claim', when the correct term is 'quit claim'. I also don't think she understands your situation.





As I said, see a real estate lawyer (just about any lawyer can deal with real estate matters, it's their bread and butter).
first at all


you must to said me


where place are you write for,..





cause i can give you my advice if you are


in M茅xico





look like


the legitime owner is you mother


even if you are 2 the only one in the title


did she all ready done their will





houses is always the best way to kkep your patrimony


so don worry a bout the value... but in one way the houses can lose value if the enviroment change--- neighbords, economical, contamination, etc. affect the value





about the lawer if you are in Mexico i can give you is mail