foreclosure

[jsdorn]

My Niece went through a divorce and her ex wanted to get his name off the deed.My Niece had to come up with $68.000 for the home which is a three unit building. The balance of the mortgage.She had to get the loan in two months so she contacted private investor in Philadelphia.She agreed to $138,000 to pay off the mortgage and the nearly $70,000 would go to the person or persons than lend her the money.She had two years to pay off the loan or face foreclosure.She defaulted on the loan and the Private investor took over her home she. My Niece has a mental problem for years she is on Disability at the time of the loan agreement she was incapable of signing her own social security cheeks she had to have a payee for her to get her checks .She was not of sound mind when she signed the loan agreement.Is Bankruptcy an option or is it to late.What can she do at this point?

 

[army judge]

She can file bankruptcy, but that won't prevent (forever) the foreclosure.

If she is mentally deficient, I suggest you speak with an attorney. She may be incompetent to have entered into a loan agreement. Discuss her options with a local attorney.