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Company Loan Type APR Est. Pmt.

quitdeed transfer

Posted on: 06th Jun, 2009 01:12 pm
my father(mortgage broker) bought a property cash, with help of private investor he sign for loan i did not sign anything. i moved into the house knowing i had bought it but really did not know details sense my dad told me not to go to the "closing". he sign deed over to me, in court system i owe nothing because i bought house for $100 from him.few months later he told me i had to refinance, i cant bc my income is too low n my hrs drop because my son had an aneurysn n i had to care for him at home. what rights does the private investor has over me. interest is 22%. my father left the country. i asked him to please lower monthly payments instead he wants house back. im a single mother please tell me where i can go for help. i think i might need a lawyer sinse my dad did a dirty trick.i spent a lot of time in this house bleacing walls, taking carpet out it had dog poop.laminated floors painted walls.i have pic to proof all the labor we did this house was not under living conditions. i worked too hard to bring it up and little by little me and friends did. please help me im desperate and dont have money for attorney. can private investor ask for house back? thnk u so much.
melawet

Welcome to forum.

If your fahre singed for the loan, he is responsible for the loan. But that does not stop the provite investor from forclosing the house.

I do nto think you can do anythign legally. Since you have already tried negotiating with the private investor, you last option is to refinance and pay off the private investor.

By the way, who is making the payments today?

If you are makign the payment, then probably you will qualify for refinancing and your payment will be much lower than what you are paying at 22% interest. Interest rates have really come down and right time to refinance.

Good luck and feel free to ask
Posted on: 06th Jun, 2009 09:52 pm
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