My question involves real estate located in the State of: LA
I have a question about making a one time payment towards the principal balance of the loan. My ex-husband is on the loan. I am on the title. We are supposed to be making the monthly payments on the loan together, 1/2 of the monthly payment each. The payments haven't been made properly and the loan company offered a loan modification to reduce monthly payments. It hasn't been signed yet, due to the holdup from the mortgage company. I don't want to make the monthly payments anymore. I want to make a one time payment of 1/2 of the principal and wash my hands off of the loan. Therefore my ex-husband will only have his 1/2 left and can pay it over time, etc. How do I properly make this one time payment so that it is applied correctly? Do you think that the loan company will accept it at this time, since we are in the middle of modifying the loan? Do they have the right to reject it? I know I can call them and ask, but I want to get an independent opinion to see what my rights are and what the law says.
Thank you
I have a question about making a one time payment towards the principal balance of the loan. My ex-husband is on the loan. I am on the title. We are supposed to be making the monthly payments on the loan together, 1/2 of the monthly payment each. The payments haven't been made properly and the loan company offered a loan modification to reduce monthly payments. It hasn't been signed yet, due to the holdup from the mortgage company. I don't want to make the monthly payments anymore. I want to make a one time payment of 1/2 of the principal and wash my hands off of the loan. Therefore my ex-husband will only have his 1/2 left and can pay it over time, etc. How do I properly make this one time payment so that it is applied correctly? Do you think that the loan company will accept it at this time, since we are in the middle of modifying the loan? Do they have the right to reject it? I know I can call them and ask, but I want to get an independent opinion to see what my rights are and what the law says.
Thank you
Mortgages: How to Make a One Time Payment to the Mortgage Company
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