proposal and house equity
May 22nd, 2007 by Questions
If I file a proposal which involves paying out the equity in my house plus additional, is there a lien on my house? Am I free to sell it and pay the payments with the proceeds? Alternatively, if a relative were to give me the lump sum amount of equity in my home and I filed a proposal based on giving this lump sum equity plus additional payments (and they accepted the proposal) would it be okay if I transferred the title of the property to the relative who paid the lump sum? Basically, once a proposal is accepted involving paying out the equity in the home, can I do what I want with the property, as long as I pay exactly as was accepted in the proposal?