seller held financing
In April 2007, my husband and I entered an arrangement of ‘seller’ financing. This was facilitated by the seller’s broker. We submitted a check for almost $17,000.00 and our names added to title by general warranty deed of gift. This transaction was done by a title company. The title is recorded by the county. Also, at the time of signing, the broker had my husband sign (I then signed as well) a short disclosure stating that we had to refinance the loan within a year,or we would be removed from title. Much to my husband’s dismay, I questioned what loan were we supposed to refinance, the broker assured us that she would put together a short term note and we would refinance that. That part of the ‘seller held’ financing never materialized. MMy husband and I continued to pay the mortgage as we already had been doing for almost a year. We preoccupied before we closed the deal Now my husband and I ares separated and my sons and I occupy the home. Sine the seller has a VHDA note Ihave applied for assumption. The seller is now stating that if I do not refinance the note I am off the deed. There is no note to refinance.
also, can I have my estranged husband sign a quit claim and put our sons on title ?