Verge of Foreclosure, transfer deed and take over payments?
I know there is a term for this but can't think of it at the moment.
Basically I have been watching a house listed as a short sale and I think it might be on the verge of foreclosure.
If I talk to the owner and they agree is there a way I can safely transfer the deed to my name and take over the payments?
How would I transfer the deed and make sure there are no liens against the house, would a title company be able to do that for this type of transaction?
I would also want to refinance as soon as I could, what kind of requirements would a standard refi have lke LTV and if the mortgage was in someone elses name but I have the deed would that make it harder to refi?