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Father on loan, mother on title, daughter making payments

Discussion in 'Joint Ownership' started by Bobcat57, Jun 17, 2016.

  1. Bobcat57

    Bobcat57 Law Topic Starter New Member

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    Jurisdiction:
    North Carolina
    I know this is a long story but I want you to know how I got in this situation.
    In 2014 I was in the proces of buying a house, I had saved enough for closing costs etc so I tried to get one of those government assited loans for the disabled that dont require dwnpayment. However because of a lender mistake I then had to pursue a conventional loan. I had no trouble qualifying because I had a credit score of 820, but it also meant now I would have to come up with over $20k for dwnpymt and closing. Long story short my dad offered to get a VA loan with me on the loan, I didnt want to do this because I have always owned my own home since I was 17 without any help! I found the house I wanted and after 6 months the lender screwed up and told us, oh by the way you can't be on the loan because VA only allows spouse to be on loans. I offered to forget the whole thing but my Dad wouldn't go for that, love his heart. I changed lenders and dad is on the loan solo but I paid all cost etc. and have the pymt drafted out of my acct each month never late and pay all cost for upkeep etc.
    The agreement we made is that after the loan went through he would put my name on the deed and if he passed I would have no problems. However when we went to sign the closing documents the lawyer asked my mother to come so she could sign. Since I had been in a major car accident 2 days prior to signing I was in too much pain to protest. The lawyer was included in the discussion about putting me on the deed. When I talked to my dad about changing the deed my mother said she wasnt going to sign anything! She is bipolar and that is why I didn't want her on the deed or anything else I own! So now I dont know what to do, I fear she may try to take it from me when my dad dies and give it to my deadbeat brother!
    As it stands now if my dad dies it will be hers but there is one thing that may be a problem for her and it's that they both signed a postnup to relinquish all rights to all property etc if they die. Another one of my mother's bipolar ideas!
    So what recourse do I have to ensure I get to keep my house?

    PS: My dad is 88 and not in good health I dont want to stress him out either, he is not my biological father but he is my dad!
     
  2. adjusterjack

    adjusterjack Super Moderator

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    You are not on the loan and you are not on the deed.

    All I can suggest is that you stop making payments and find yourself another place to live.

    I'm sure you love your Dad but count your blessings that you are not on the deed or the loan with that dysfunctional couple because that could come back to bite you even worse that what's happening now.

    Next time just say no to any family offer of financial assistance even if you have to rent an apartment for a few years.
     
  3. Bobcat57

    Bobcat57 Law Topic Starter New Member

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    Thanks for the reply, i would never do that to my dad. He is 88 and in poor health.
    I just hoped there was a way to get my name on the deed or for my dad to sign his interest over to me without the involvement of my mother. Then as morbid as it sounds wait till she dies and deal with it then.
    I have to stay involved with my family because I have a disabled sister who lives in an apartment built onto their house that us kids paid for, so to see her I have to go there.
    Thanks again.
     
  4. army judge

    army judge Super Moderator

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    Ask your father if he is interested in creating a will.
    If he is, he can then leave to you his interest in the home upon his demise.
    You can create the will online, using a site like this:


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    North Carolina Last Will and Testament

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    Make a Last Will and Testament


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  5. Bobcat57

    Bobcat57 Law Topic Starter New Member

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    Thanks Armyjudge, will do! Happy Father's Day if it applies!
     
  6. army judge

    army judge Super Moderator

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    You're welcome, and it does apply.
    I had an enjoyable day with one of my sons and his family.
     
  7. ElleMD

    ElleMD Well-Known Member

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    Your parents are still married I take it? It isn't clear why any party can't tell which one) would ask a non-resident, who isn't on the mortgage to sign the deed, or why you wouldn't object, pain or not. That is a heck of a thing to just let pass. Your father on the deed makes sense as a mortgage company isn't going to grant a mortgage for a house the buyer doesn't legally own. My guess is Mom is on the mortgage too.

    Right now, you are paying for your parents' house. You just live there, no different than a renter. Even if Dad has a will, he can not give you your mother's property. She is on the deed. The house is hers. No post-nup is going to change that.

    "Easiest" is a relative term here, and you absolutely want to discuss this with a lawyer or two, but Mom and Dad can sell you the house. You would get a mortgage in your own name, and be on the deed alone.

    Should Dad pass and the house remains only your mothers', she may do with it what she wants. She may gift it to someone, sell it, or evict you and find another tenant. Right now, it is not your house. You have zero claim to it beyond what rights your state grants any tenant. You essentially have been paying rent for the past 2 years.
     

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