I have a family member who recently filed Chapter 13 and has now received notice that the old family home they own will be foreclosed on soon.
What would be my options to take over this property if the loan is not assumable? Is it best to just add my name to the deed and start making the payments myself? They do not want any interest in the property anymore.
Answer
Consult with a bankruptcy attorney before making any attempt
to assume ownership by merely "adding your name" to the
deed to this property under the circumstances described.
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