Boston Real Estate: Search Boston MA Homes for Sale

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Contact Homes Boston if you have any questions or need more detailed information about Boston homes or Boston apartments. Please feel free to contact us at 617-615-6606 or fill out the form to let us know how we can help with your Massachusetts and Boston real estate needs.

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Boston, MA 02116
Phone: (617) 615-6606

Confirm your loan has been paid off before you deed home

If you deed your home to a third party, that party will then have control over your home. The new owner of the home can rent the home, try to sell your home at a profit, move into the home or use the home in many other ways. The new owner of the home might not make mortgage payment that you are liable for, which will then become a huge problem for you. Just because you no longer own the home, it does not mean you are no longer responsible for the home mortgage loan that was issued to you. The lender of the mortgage made the home loan to you, not the home; you will be held liable until the loan is fully paid off. Until the loan is paid off, you are responsible for the monthly mortgage payment obligation. If you give up control of the home and the new owner does not pay the mortgage payments, your credit will be damage and the lender will chase after you, not the new home owner. That is why if deeding your home to a third party is the best potion for you; you should consult with your own attorney, not the buyers attorney, before the transaction is complete.


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