Illinois foreclosure question

Posted by jharden on November 22, 2003 at 00:01:03:

Hello,

I am involved in a situation where I had moved into a home with a lady and she decided we would sell the home and purchase a bigger home. When the new home was purchased(in Illinois) she applied a portion of the sale money to the down payment. Because of her credit, the mortgage and deed were put in my name. For three years I made each mortgage payment and performed continual renovation and resoration work. Because of very different moral and ethical differences I asked her to move out in April 2003. My intent was to sell the property and split the proceeds with her. I agreed to allow her a few weeks to find a place to live. She proceeded to change the locks on the house, and take posession. Wanting to avoid a court battle I agreeded to sell her the house at the payoff price. To do this her lawyer wrote up a quit claim deed to have her name added to the property. To make a long story shorter, over six more months have passed and she has backed out of the agreement. She has moved out of the property recently, but still has me locked out. She will not sign back off of the deed, and allow me to proceed with a sale to prevent foreclosure. I fear foreclosure may be the only option to finalize the seperation of our legal ties. I have read of deed in lieu of foreclosure, but does this require both parties on the deed signing over to the mortgage company? What are my options? Thanks, J

Follow Ups:

• Re: Illinois foreclosure question - Darryl-CA 10:57:54 11/22/03 (1)
  • Re: Illinois foreclosure question - Irwin Prince 05:10:41 11/26/03 (0)

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: Hello,  





: I am involved in a situation where I had moved into a home with a lady and she decided we would sell the home and purchase a bigger home. When the new home was purchased(in Illinois) she applied a portion of the sale money to the down payment. Because of her credit, the mortgage and deed were put in my name. For three years I made each mortgage payment and performed continual renovation and resoration work. Because of very different moral and ethical differences I asked her to move out in April 2003. My intent was to sell the property and split the proceeds with her. I agreed to allow her a few weeks to find a place to live. She proceeded to change the locks on the house, and take posession. Wanting to avoid a court battle I agreeded to sell her the house at the payoff price. To do this her lawyer wrote up a quit claim deed to have her name added to the property. To make a long story shorter, over six more months have passed and she has backed out of the agreement. She has moved out of the property recently, but still has me locked out. She will not sign back off of the deed, and allow me to proceed with a sale to prevent foreclosure. I fear foreclosure may be the only option to finalize the seperation of our legal ties. I have read of deed in lieu of foreclosure, but does this require both parties on the deed signing over to the mortgage company? What are my options? Thanks, J 








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