Very long story but I will try and sum it up short. My deed has my name and another person that holds life lease. I was approached by a Mortgage Co. to take out a loan, which I have tried many times, but could not due to this life lease. (I WILL NOT ASK THE PERSON TO SIGN ANY PAPERS). The person with the life lease is my very sick dad and I have told every loan officer right up front, if he was to be involved in any fashion, then I did not want a loan. One Company said they could work a loan without my dad finding out. A Title Company did the search in which my deed is a simple 1 page deed and has always held the paragraph with the life lease. They said the Title was clear and a loan with given where I paid interest ONLY for 2 years and then I could refinance. (This was to help rebuild my credit). After 2 yrs. Of paying interest only, the loan Company now says, we cannot refinance for a fixed lower rate as this loan should never have gone through and you need the life lessee's signature to do anything. Now I am stuck due to their fowl up and have been told my payments will jump by $400 - $500 a month. My dad is sick and I WILL NOT tell him, it would kill him for sure!! Who is responsible for this unlawful error?? I need help soon, time is running out for me.

Hello pigley:

You need an attorney - NOW!

The loan MAY or MAY not be legal, but you'll never know unless you get it before a judge. And, you won't get it in front of a judge unless you sue.

Or you could wait for foreclosure proceedings, but you'll have a disadvantage there.

Or, maybe the lawyer can get concessions from the lender AND the title company. I don't know how this is going to wash out. I'll bet these companies have a different story. For sure, they have highly paid lawyers on hand to fight YOU, even if they are wrong.

excon