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Down payment gift

Discussion in 'Mortgages & Financing' started by EBNL, Oct 23, 2018.

  1. EBNL

    EBNL Law Topic Starter New Member

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    Hello,

    I bought a house last year that my boyfriend gifted me the down payment. He signed a gift letter at the time of purchase. The letter stated he was my fiancée although he wasn’t. When I told my lender my boyfriend was planning to gift me the money he said “you mean your fiancée, right” then proceeded to explain that the lender could not accept the letter unless we were engaged.

    Our relationship is coming to an end. He continues to tell me he isn’t leaving without the money. I tell him to take me to court if he thinks I should. My concern, what if any, are the consequences for the false relationship status in the gift letter? Could that cause me to have to pay it back? Can either or both of us be charged with fraud?
     
  2. flyingron

    flyingron Well-Known Member

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    First off, it the money wasn't intended to be a gift and you lied to the lender, then they indeed can pursue you for the fraud. Will that happen? Probably not as long as you keep paying your mortgage. They have four or five years to come after you, however.

    As for him taking you to court, he'd have to prove that there was some indication that the money, despite the letter, was not intended to be a gift. That will probably be difficult.

    As to what you should do, well that all depends on things you didn't say. Other that the gift letter, did he sign anything with regard to the loan? Did you deed any interest of the house to him? When you say "he won't leave," does that imply he is living in your house?
     
  3. zddoodah

    zddoodah Well-Known Member

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    So, basically, you and your boyfriend lied in order to induce a lender to make a loan.

    You might want to google "mortgage fraud."
     
  4. army judge

    army judge Super Moderator

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    Hard to speculate what some, unknown to me, prosecutor MIGHT do.
    However, US attorneys do take this seriously, and have been known to aggressively pursue these cases if someone were to inform on you; like an unpaid former paramour.

    Paying the money back would be the least harmful fate that could befall you, unless you consider a three or four year sentence in a federal prison a walk in the park.


    Again, any answer you receive would be speculation.
    That said, people do go to prison for less.
     
    hrforme likes this.
  5. EBNL

    EBNL Law Topic Starter New Member

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    I am the only person on the loan and the deed- the house is 100% only in my name. I would not buy a house "with him" because we were not married (At the time we were together for 4 years- marriage is not something I ever wanted). We did look at houses together and made the decision on which house to buy. I am the only person that spoke with the lending company and did all the paperwork.

    Prior to signing the gift letter, we had many conversations about the letter and the language in the letter about how it was a gift and not a loan. I also told him I would never have the money to be able to pay him back if the relationship were to end. I was very clear he would never see this money again. He even signed the first letter in the wrong spot and again talked to him about the letter and what it meant before he signed it again. I never told I would return the money to him; I even pointed out that the letter stated he could not come after me for the money. Now that the relationship is not moving on in his favor he is saying he thought he gave his money to "someone that would do the right thing and pay him back" and that "I stole his money".

    Yes, he currently lives in the house. I have asked him to leave on many accounts. He tells me he is not leaving without his money. I tell him to take me to court if he believes I owe him the money. He also knows I have to serve him a 30 day notice and even go through the courts after for another 30 day eviction notice. I reached out to the lawyer my family uses to start that process.

    My concern is the language of the letter and the fact that we were not engaged.
     
  6. army judge

    army judge Super Moderator

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    Do yourself a favor, take the answers you were given and walk away.
    Stop defending what you did to us, just a gang of internet volunteers with no authority to harm you.

    If the real dangerous federal prosecutors, the FBI, or the local prosecutors come knocking, lawyer up immediately.

    You could be in deep doo doo, and if that happens, blabbing is the worst thing you can do.

    You have the right to remain silent, for your sake, use it if the real police come knocking or the Feds!
     
  7. mightymoose

    mightymoose Moderator

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    You might just wait to see what action he takes, if any, before jumping ahead and causing any unnecessary damage.
    He was a part of the fraud and might not be too keen on exposing himself to criminal charges.
    Ignore him and he may just go away.
     
  8. adjusterjack

    adjusterjack Super Moderator

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    I agree with the others. Keep your mouth shut about the letter and proceed with the eviction. You will first need to give him written notice and then file through the courts.

    If he gets abusive or violent, call the police, get that on record, and get a restraining order which will get him out faster.

    Lesson for the future. Never get financially involved with boyfriends.
     
  9. army judge

    army judge Super Moderator

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    girlfriends, friends, fake friends, acquaintances, or relatives.
     

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