Originally Posted by 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.