Posted by aj on September 04, 2008 at 16:49:12:
In Reply to: Reverse posted by Don on August 26, 2008 at 12:34:57:
This reeks. Something is wrong.
When the investor took back the property, did not the mortgagor also require that the investor assume the mortgage, subject to?
I do not find it credible that someone would take out a mortgage and if they wanted out, that they not make sure that they were no longer responsible for it. A quit claim deed can transfer an interest in property but you need other paperwork to do a subject to transfer.
If the investor took back the property, why did he not also take the financing? This means that the investor got paid, then got the asset back but he still kept the payment. This is undo enrichment. A deposition might clear this up.