My mom is putting me on deed to house. How long before I am able to take equity out?
80244
Your mom putting you on the deed doesn't have anything to do with you taking out equity.  You would both have to qualify and refinance the house in both your names in order to get equity from the home.
476390
take a loan on the equity of your property.  it will be like a new mortgage
791634
She can't sell the house unless she owns it, the bank may be willing to work with you if they know what happened. Good Luck!
998439
There are several issues here.     Let's start with the appraisal.  Appraisers are regulated and appraisals are valid if performed in complaince by a licensed real estate appraiser.  If your buyers are getting financed on the purchase, an appraisal will, in all probability, be required.  If they are not financing it, no appraisal will be required so you may never know the home's real value.\n\nThe fact that your sister's home may be valued higher than yours would not be unusual if her home is bigger, in better condition, or just not comparable to yours.  Just because a house is next door doesn't mean the values will be the same.  There are a lot of things that factor into value. \n\nNext, if you signed an agreement to sell the home for $200,000,\nyou have entered into a contract to sell at that price.  it may, and I stress MAY, be too late to change that now.  The may comes in because the Realtor must disclose that the buyer is a licensed Realtor.  If he did not do so in writing on the sales agreement, you may have a case to void the contract.\n\nFinally, that Realtor has absolutely no business bringing in anyone to move you or tell you what can be moved.  He has no rights to enter your property at all without your permission until such time as the buyer's loan documents and your deed awarding them the title to the property have been signed and recorded.  Until that day, the home is yours and yours alone.\n\nAt best, what has occured here is an example of horrible communications.  At worst, you're being swindled and taken advantage of. \n\nYou say you cannot afford a lawyer.  I say you cannot afford not to consult one.  You can pay the lawyer's fee from the proceeds of the sale. \n\nAt least make an effort to protect yourself.  Call legal aid, call  your pastor, call an advocacy group for people with your disability.  Help is out there, please go get it.\n\nI'll pray for you.
827965
Call your lender. You may be able to make arrangements to do a "Deed in Lieu of Foreclosure". It's not done often, but given your circumstances, it may work for you. Also, talk to a real estate agent. There is a chance that you can sell this property for at least the amount that you owe on it, if not more. I'd actually suggest this over the other since you have a chance of actually getting back some of your investment. I really hope this works out for you. Good luck!
654088
you'll have to take it before a probate judge or seek legal counsel first. more than likely it will be set that the house be sold at market value and the money be split between yall,but if there is any outstanding debts they have to be paid first then what ever is left be split
1015760
You will generally get a better rate from a cash-out refi than from a home equity loan, but the equity loan will be paid off sooner.\n\nHowever, if you already have two mortgages, it sounds like you're overextended and probably should not be taking more equity out of your house.
1033295
If you are joint owners and not married or considered common law married than there are only two choices he has.\n\n1.  Buy out your half of the equity and secure a new loan.  He doesn't have to pay you half the value, just half the equity.\n\n2.  He has to sell.  He has no choice in this situation if he doesn't want to buy you out
751744
You could do it immediately as long as your current mortgagor allows it and you're willing to pay any fees, penalties, etc.  \n\nNow's the time to read the fine print on your mortgage if you haven't already, because that's where you'll find the correct answer, not here on Yahoo Answers.
234839
Have an attorney help you execute a "Quick Claim Deed."\n\nAlso, it does NOT have to be okayed with your Mortgage lender.  You can have any name(s) you want on the deed.  The deed and the mortgage are two completely different things.
900138
No not form some time.\nAs a seller you need to figures out what you can sell for and God help you if you just got the house in the last three years or have a equity line of credit, you will be up side down.\n\nIf you have some equity do be greedy the longer you wait the less you will make. \n \nThe reason for this is that the bubble is breaking checl out this web site and see why has happen and why you may get screwed.\n\nBest of luck.\nhttp://www.breakingbubble.com/index.htm
366801
It depends on what state you live in.  The forclosure papers should give you a phone # to call. The worst thing you can do is not call that #.  Call the number and ask two questions, how much is my payoff and when do I need to sell the house by.  You may think you know what you owe on your house, but when it goes into forclosure, the office that takes on the file adds fees every day in some cases.  Make sure when you ask for the payoff, you ask if that # is going to go up.  If you have enough equity in your house and you can price it to sell, let me know and I'll give you some idea's on how to unload it.
407010
Each state has an office with a name that is something along the lines of "commissioner of land"...contact that office.  They can put you on a mailing list to receive notices when they are about to have the auctions.\n\nAnother thing you can do is look for pending forclosures in the newspaper.  They have to post it in the newspaper before they forclose.  If it is an old mortgage, call the homeowner and offer to take the note.  They can sign the house over to you and you can either assume the note or refinance to get it into your name and current.  This method was pretty much how I got my house, and the 27 thousand dollars equity that came with it.
875683
You can have your name in a refinance as a guaranttor. As a result, you can create a Trust Deed which allows you to lodge a caveat on the property so that any re-sale proceedings can only be done with your consent. \nTrust Deed can also be suported by documents such as a Lease/Rent Agreement which is above 3 years in contract. \n\nAbsolutely possible to proceed with the re-finance as your mom definitely will not qualify for a re-mortgage, hence the son comes in the picture. The legal ownership, however, still remains only in the name of your mom.\nIf you want your name to show as co-owner, then your mom has to sell you her half-share of the value of the property. A Sales & Purchase Agreement needs to be drawn up for half value.\nYou need to consult a mortgage officer in the bank to find out which bank accepts half-share mortgage.
510513
DEPENDING ON THE AMOUNT OF THE HOME EQUITY LINE THEY COULD FORCLOSE ON YOUR HOME.  YOU USED YOUR HOME FOR SECURITY ON THE LOAN AND NOW THEY OWN A PORTION OF IT.\n\nI WOULD SUGGEST GOING TO THE BANK AND TALKING TO THE LOAN OFFICER AND SEEING IF YOU CAN MAKE JUST THE INTEREST PAYMENTS UNTIL TAX TIME EACH YEAR.  THEY MAY LET YOU GET AWAY WITH IT.\n\nGOOD LUCK
940904
If you are already concerned about her wanting the house back, don't do a land contract (AKA contract for deed).  On these, when you do get your financing together, you need her to sign it over to you.  If she refuses, if you can't find her, if she's died, you've got trouble... you called her your mother in law..... if you get divorced from her son... probably trouble too.
1167182
As they say, Possession is nine tenths of the law, not majority rules. Basically they have told you to get out, but they have nothing to back that request up right? If they want you out so that they can sell the house and split the money that is fine, let them know that you will make sure that the house is presentable and available to show, and once the sale goes through you will move. Until that time let them know that you are not leaving.