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Old 11-22-2008, 08:33 PM
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Join Date: Nov 2008
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Default Mortgage question about brother taking mortgage out on

my property.? This is an odd situation and am wondering if anyone might have advice or been threw something similar and might be able to help. About 4 years ago my brother approached me asking if it was alright to put a 10k mortgage on my inherited “shot gun” house property for a business start up loan. I went to the mortgage company and signed the papers with him. His friend, at the time working for the mortgage property got him the loan. 3 years later my mother had moved in with me for health reasons along with my little niece which she had been trying to take care of. My brother approached my mother and self in October this year and said he quit making payments on his debt 2 moths prior to telling us in October. He confessed the mortgage debt was for 40k dollars and he blew it in 18 months without investing the money into his business. Told my mother and myself that if we wanted to keep the inheritance on a property valued in it’s current condition 24k, that we must start making payments on his debt and pay his remaining 33.5k debt from his mortgage on my house. He said he was tired of responsibilities and wanted my mother and self to take his responsibilities on for him. I went to the mortgage company to find out my legal responsibilities on the debt sense I signed mortgage papers( I DID NOT cosign for the mortgage). The mortgage company told me my name was not on the mortgage and there were no signatures of mine on it as well. My brother disappeared after October and I am in fear that my ill mother and niece will become homeless due to my brother’s poor decisions. I have spoken with real-estate lawyers and criminal prosecuting attorneys. They informed me to dump the property and not to pay his debt off and if I took my brother to court it would be word against word and they were not willing to help for that reason and for the reason it’s family against family.I am wondering if anyone might have any ideas or are there any laws out there that can help protect my family against our brother for trying to hold us financially liable for his mistakes. He is trying to force us to pay off his debts by holding his mortgage over our heads. Any help would be greatly appreciated.
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