Saturday, July 16, 2011

Can I sell my house if it hasw a home equity loan that I took out that my mother in law has been paying and my?

Can I sell my house if my name is the only name on the deed. It's appraised at 106,000. I took out a home equity loan for 28,000. to help my mother-in-law. She has been living in the house and making payments on the equity loan that are up to date. Long story short, both our names are on the loan,but mine is the only one on the deed and taxes. Me,mywife and4 kids don't live there anymore and its got our credit tied up. My wifes mother says she doesn't want to sell it. I want my name off the loan and the only way I see of doing that is selling the house to pay off the loan and taking the profit and spliting it with my mother-in-law, wich I think would be morally right. She is the type of person that will put up a fight. But my family is tied down because of this stupid decision I let myself get talked into 2 years ago putting my house up to take out a equity loan. If it helps we live in Texas. I'm just not sure what would be the easiest way out of this.

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