If someone QC house to you can they go and inform their mortgage company not to except payoff from you so you can refinance?
Can someone please answer this question for me. Thanks in advance. :-?
I'd guess anybody could walk into the mtg co with cash and pay any loan on their books, so your "informing" them not to accept money would be quite humorous to the lender.
Further, if you have the deed and title, why would anybody else even be interested in what the loan co., or you, do now?
Well now I am even more confused. So some person gave you a quit claim deed to his property in exchange for making up the back payments. But now he wants to refinance the property and repay you as if your investment were a loan. But you don't want to get your return in this deal that way you want to refinance and throw the guy out and sell the house. Is that more-or-less the situation?
I'd guess anybody could walk into the mtg co with cash and pay any loan on their books, so your "informing" them not to accept money would be quite humorous to the lender.
Further, if you have the deed and title, why would anybody else even be interested in what the loan co., or you, do now?
Even assuming somebody did this why would the mortgage company go along?
Well now I am even more confused. So some person gave you a quit claim deed to his property in exchange for making up the back payments. But now he wants to refinance the property and repay you as if your investment were a loan. But you don't want to get your return in this deal that way you want to refinance and throw the guy out and sell the house. Is that more-or-less the situation?
The issue, as we lawyers say, is really "Who has the title"...and if you have a recorded deed in your name, the other guy won't be doing any refi.