Well let me start by saying that I inherited my Mother due to Dimentia, so I inherited all her problems that come along with her.

My Mother has been living with us for about three years now. Before she came to live with us she supposedly cosigned with my sister on a loan for a travel trailer. With the promise that Mom wouldn't have to pay anything on it that my sister would make the payments. Everything went well for a while and then my sister fell into arrears with the account, so she called and we fixed the situation. Now she is owing me the money that we helped with and she has about paid that off.

I did talk to the bank and they told me that the only way that they can get her name off of the loan is for my sister to apply for a loan and assume the payments on it. She don't make enough money and can't get a loan with the bank, not to mention that they won't give her a loan while she is living in the trailer for fear that she will flea on them and not pay the loan off.

The problem is that when Mom signed the paperwork for the trailer they lied to her. She didn't sign as a cosigner, she is signer on the loan. Which takes this totally out of my sister's name. The Dimentia wasn't diagnosed until after the loan was in place. Is there anyway that I can get her out of this legally?

JudyKayTee

[quote=gypsy12407]Well let me start by saying that I inherited my Mother due to Dimentia, so I inherited all her problems that come along with her.

My Mother has been living with us for about three years now. Before she came to live with us she supposedly cosigned with my sister on a loan for a travel trailer. With the promise that Mom wouldn't have to pay anything on it that my sister would make the payments. Everything went well for a while and then my sister fell into arrears with the account, so she called and we fixed the situation. Now she is owing me the money that we helped with and she has about paid that off.

I did talk to the bank and they told me that the only way that they can get her name off of the loan is for my sister to apply for a loan and assume the payments on it. She don't make enough money and can't get a loan with the bank, not to mention that they won't give her a loan while she is living in the trailer for fear that she will flea on them and not pay the loan off.

The problem is that when Mom signed the paperwork for the trailer they lied to her. She didn't sign as a cosigner, she is signer on the loan. Which takes this totally out of my sister's name. The Dimentia wasn't diagnosed until after the loan was in place. Is there anyway that I can get her out of this legally?



Sorry, but I don't think so - your mother had not been diagnosed, now it's your mother's word against your sister's word - what a mess.

Does your mother have any assets? What if your sister just stops paying and no one saves her? What I'm asking is if your mother is judgment proof.

Fr_Chuck

no, but if the item is in just your moms name, can you ( if you are guardian) merely take over the item and sell it ??

Also I wlll say while I am glad you are helping your mom but what is your legal status over your mom, power of attorney at least, guardianship hopefully.

But as Judy said, if you mom has nothing, they can't get anything

gypsy12407

[quote=JudyKayTee]I know that my Mother is not perfect if that is what you are saying. But I do know that she discussed this with my brother and I when she was going to do it and both of us told her not to. She did it anyway saying that my sister and niece needed a place to live and if she didn't do this then they would have no place to live and she didn't want them living with her.

My sister when it comes to my Mother was told that there may be a problem. Both my brother and I noticed this when we talked to her on the phone weekly, slurring her words and forgetting things that she was talking about. My sister was told to get her to a dr and have her checked out and she didn't do this. She could never find the time to take her to the dr. So when she was brought out here when I live this is the first thing that we did for her, take her to the dr.

We have had problems in the past with my sister's integrity, but not my Mothers.

gypsy12407

Yes we can take over this. I don't have guardianship at this point but all of her accounts are in my care. No power of attorney at this time. I am still working on that. There has been talk of selling the trailer, but don't want to put my niece out on the street. She isn't yet 18. Not sure how to get the guardianship at this time, any suggestions.

My Mother has no property. She sold her trailer and property when I brought her to live with me, and at this time her money from the sell of that is in my name. There is only one that can get into the account at this time and that is me. The funds are used to pay for anything that she can't obtain with her social security check. Her vehicle was also sold and we have paid all of her other accounts off so that she only has monthly bills that come in and most of them are for life insurance and things that she wants at this point.

JudyKayTee

[quote=gypsy12407]

I meant that if your mother HAD been diagnosed prior to signing it would be a different situation. I meant no slur or disrespect to you.

Knowing/thinking there is a problem and having it diagnosed are two separate things and, yes, it sounds like your sister took advantage.

Question is, now what? I think you've received some good advice here.

gypsy12407

No slur or disrespect taken. Thank you for your help. I am now in the process of getting the guardianship and the power of attorney taken care of so there will be no more problems. As far as the trailer situation, my sister has been told that she has to keep the trailer payments up at this point. No payment and we will let it go to collections and they will repo the trailer. At 72 years old, you aren't going to need good credit much longer.





I meant that if your mother HAD been diagnosed prior to signing it would be a different situation. I meant no slur or disrespect to you.

Knowing/thinking there is a problem and having it diagnosed are two separate things and, yes, it sounds like your sister took advantage.

Question is, now what? I think you've received some good advice here.[/quote]

JudyKayTee

[quote=gypsy12407]No slur or disrespect taken. Thank you for your help. I am now in the process of getting the guardianship and the power of attorney taken care of so there will be no more problems. As far as the trailer situation, my sister has been told that she has to keep the trailer payments up at this point. No payment and we will let it go to collections and they will repo the trailer. At 72 years old, you aren't going to need good credit much longer.


Thanks for coming back with the update - always interested to see how things work out. Can you keep your mother from getting into any other "deals" with your sister? Who knows what she (your sister) will come up with next!

ScottGem

First, I'm not sure if you can get power of attorney at this point. If your mother is suffering from dementia, then she is not competent to sign over power of attorney. So what you need is to be appointed guardian for her.

Second, if all her money is SOLELY in your name, with the exception of an account where her SS is deposited and she has no other assets, then she is judgement proof. So if your sister defaults and they come after mom, there will be nothing they can get.

On the other hand, if you are keeping your mother's funds in an account that she is not a party to, you may have some legal issues. I would strongly advise consulting with an elder care attorney or representative to determine the best way to manage mom's finances.