Posted on: 04th May, 2009 07:07 pm
my husband and i are doing a lease purchase agrteement on the home we plan to buy. we had to do a lease purchase because the house was about to be taken. my in law's are filing bankruptcy and they keep saying we won't lose our house but i don't and never have trusted then and now i am scared we are going to lose our home. my husband signed a quitclaim deed then they filed....i'm scared about that too!
I'm not certain I can understand the situation. What part do the in-laws play in you purchasing a home?
My father in law actually built the house. They have filed for bankruptcy. But before they did they had my husband sign a quitclaim deed and I was tld that we had to wait a year before we could technically purchase the home in our name....I'm not sure if it's because the house was way behind in payments or what.....they try and keep everything from me! I can't afford to go to an attorney or I would....believe me
I know it is confusing.....I don't even understand it. I try and ask them questions but they just blow everything off. I am really worried that they are going to really mess things up! I almost think it is intentional! Do they stand to benefit in any way from keeping ownership of the home? Because I can't understand why they keep avaoiding my questions!
I cannot understand why they would not sell you the home if they cannot keep up with the payments. If you're paying rent to them and they are not keeping up with the payments, they may feel that is they're "benefit". Ultimately, this is not benefiting either party and if you're in position to purchase this property now contact a lender for a pre approval to initiate the whole process. I hope this helps...
i am just wondering if they are in some way benefitting finacially from this.....that is what suspect! any advice?
they said they could not sell it because it was going to be or was in foreclosure? they won't tell me anything, so i don't know what is true?
If your in laws transfer the property immediately before filing bankruptcy, it will considered as a fraudulent act. I guess that's the reason why they want you to wait for a year and then purchase the property.