Posted on: 04th Dec, 2009 10:02 am
my father and i own a house together on paper i needed him on loan for our combined income to qualify. my sister used to rent from me until we got into a fight and she moved out. she convinced my father without me knowing to take out a second mortgage so she can have money to get other place. i found out two years later when i tried to refi. is it possible to get second mortgage without my signature and what can i do? :o
it's inappropriate to say the least. the lien filed on the property is somewhat valid, but it would create a problem for the lender if they ever needed to foreclose.
i suppose you could wring his neck, but that's not something i would advocate. it might get you more trouble than you have already. so we'll set that idea aside for now.
honestly, you can go get a lawyer to work with you to try to ameliorate the damage - perhaps something can be worked out with the lender on the second mortgage. you didn't say - how much is that debt? if it's low enough, the lender may consider releasing its lien due to its own foolishness to begin with.
but to negotiate with them from the strongest standpoint, you'll really need an advocate - that's a very good reason to get legal counsel.
i'm not sure there's much else than can be done at this point, but it's certainly worth having a legal consultation at the least - those are typically gratis anyway.
i suppose you could wring his neck, but that's not something i would advocate. it might get you more trouble than you have already. so we'll set that idea aside for now.
honestly, you can go get a lawyer to work with you to try to ameliorate the damage - perhaps something can be worked out with the lender on the second mortgage. you didn't say - how much is that debt? if it's low enough, the lender may consider releasing its lien due to its own foolishness to begin with.
but to negotiate with them from the strongest standpoint, you'll really need an advocate - that's a very good reason to get legal counsel.
i'm not sure there's much else than can be done at this point, but it's certainly worth having a legal consultation at the least - those are typically gratis anyway.