I Need Help Quick! Aunt Living In Foreclosed House!
Hello,
Just found this site...Wonderful Info.
Here's the deal. My Aunt's home was sold via. Sheriff's Auction...I have til March 4th to redeem property. Aunt has terminal cancer. Aunt and Uncle are seperated....Mortgage was in Uncle's name only! Deed was in both. I will meet with both tomorrow and Register a Quit Claim Deed to the property.
I received a payoff letter for $37k house worth approx $90k. I don't want the house just don't want Aunt homeless. After a year of established payments I hope to aid her in getting a mortg. and xfer property back as she has (2)children at home.
I took equity line of credit for my home to cover the 37k, I will sign loan papers this coming Monday.
Question: What else do I need to do other than a quit claim deed to claim ownership of the property until my Aunt get's back on her feet?
Question: Does this title the property in my name?
Question: What about the Treasury for Tax purposes...is there a form for that?
Thanx for your help in advance.
Ryan
P.S. I live in Michigan
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