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I am in a serious situation. I purchased my mother's home so she could get out of debt but continue to live in it. As long as she paid the monthly payments I would continue to hold the mortgage. I made the mistake of transferring the deed in her name when I moved to another state never thinking that my own mother would screw me. Now my older sister who is nothing more than a thief is living in the house with her lover and no one is paying the bills. My mother refuses to sign a quit claim deed. A lawyer told me litigation will cost me a fortune. I need to know what to do. I am ready to have a breakdown knowing that I have this debt besides paying my own expenses and that they will get away with keeping this house while my credit and life go to hell. Can anyone suggest anything?

evolovik26 · Posted: Tue Nov 18, 2008 3:29 pm Post subject:

This is bad
Not a lot that can be done but pleading with your mother and sister
You did yourself no favors.
Talk to your mother and your sister and resolve this

smithsussane · Posted: Tue Nov 18, 2008 7:40 pm Post subject:

Hi Guest!

Welcome to forums!

I agree will Eugene that there is nothing much that can be done in this case except for pleading with your mother and sister. As the deed is in your mother's name, you can ask her to refinance the property. You can even consult an attorney and see if he can provide you with other solutions after going through the deed of the property.

Feel free to ask if you have further queries.

Sussane

Guest

I appreciate the responses. I did go to the house and they did not answer the door. I called and left a message on their phones and still no response. I was speaking to others who left me two suggestions. 1) call the bank and tell them the situation and they might assist me in obtaining the deed again in my name since it was done without any attorney. 2) file bankruptcy.
I am afraid that the first suggestion is not going to help me other than the bank knowing that I don't live in the house and that they will start foreclosure on the property. The second suggestion I dont want to do because I had good credit prior to their not paying on the house and dont want to destroy any good standing that I may have left.
can anyone give me feedback on this. Thank you

billzimmerman · Joined: 19 Nov 2008 Posts: 2 1.67 Dollars($)

The future is not like the past. Credit rating is not as important as it was, and your situation can be explained away. Now your down payment and income stability are #1 and #2 most important. If they are good then you will get a decent loan even with "bad credit".

jameshogg · Posted: Wed Nov 19, 2008 11:39 pm Post subject:

Hi Liza,

I understand your situation. But filing a bankruptcy isn't the right option I believe. I mean first of all, you should inform the lender about what's going on and then try and work out an alternative repayment plan which perhaps you can afford.

I would contradict with Billzimmerman here when he says that credit rating isn't as important as it was. The fact is, it's even more important than it ever was!

Thanks

Guest

so am I supposed to refinance while they live in the house for nothing? the deed not in my name. its so unfair to me and my husband and children. what are my chances with the bank helping me with this deed situation? would they? I also don't want to file bankruptcy which it looks like that is the only way for me to remove myself from this debt and let the bank deal with my family of crooks. thank you for everyone who contributes in my making the decent but right decision for me.

Niicss · Posted: Sat Nov 22, 2008 1:34 am Post subject:

Hi Liza,

I don't think the bank will help you in any way as far as the change of name in the deed is concerned. I agree will James Hogg - you should look out for alternative payment plans. In case if these plans do not work out, then you will have to file bankruptcy.

Thanks.

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how can I get out of this mortgage?