[WSBAPT] Client on mortgage, but not title

[Mike Winslow]

He is stuck unless he wants to get involved in litigation with the trust, to force a refi, although the basis for such a claim would be subject to an agreement between client and his aunt.
 
The lender will not release him unless the debt is paid or the other borrower applies to refinance.
 
While it is of no help, this situation made me think of an old proverb on the subject:
Proverbs 22:26 <http://biblehub.com/proverbs/22-26.htm> 
Do not be among those who give pledges, Among those who become guarantors for debts.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Adria Vondra
Sent: Thursday, June 02, 2016 2:11 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Client on mortgage, but not title
 
I have a PC who took out a mortgage loan for his aunt several years ago.  Right before she died (5 years ago), he transferred title to her family trust at her request.  His uncle is trustee and PC is not a beneficiary.  He never lived in the house and never has made any payments on the home nor did he make the down payment.  The trust makes all the payments.  His uncle is not cooperative at all.  So, basically, he is on the loan and not the title.  He wants to get off the loan so that he can qualify for his own home.  Does he have any legal recourse?  I don't know if he can force a sale since he is not on title.  The trustee will not cooperate to refinance and the client is concerned about his credit and has literally no communication with them since his aunt died.  Any ideas?

-- 
Adria Vondra
Attorney at Law
Vondra Law Firm, PLLC
15600 Redmond Way, Ste 201
Redmond, WA  98052
avondra at vondralawfirm.com
 
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