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    bjsmith1950's Avatar
    bjsmith1950 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 7, 2007, 01:45 PM
    Foreclosure on Land
    My Son purchased some property a year or so ago,and said he would build a home on this Land.However he never did. He asked me to add my name to this property so that his girlfriend could not get it toward child support payments. The Bank that financed this loan are talking about Foreclosure.and I am being sued by the Home Owners Association.Even though there is no Home on the land! I want my name off this contract that I was misled into signing.Can you give me some advice on what steps I could take to clear my name? Thanks :mad: BJS
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 7, 2007, 01:49 PM
    Is your name on the contract or the deed or the loan or some combination?
    bjsmith1950's Avatar
    bjsmith1950 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Nov 7, 2007, 02:17 PM
    I remember putting my name on some papers,But never in a Million Years did I think I was the owner of this propery! But I am and want nothing to do with this! However I know it is too late now! I want to just give it back to the Bank because my son is not paying for this property like he should ,They are going to take it anyway! Why not now?But what will the Foreclosure do to me and my credit? Ruin me for life? Please help with some advice! ThanksBJS:(
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Nov 7, 2007, 06:00 PM
    You don't want to do that as it will have a very bad affect on your credit. You really didn't answer my question. If you are on the deed, then you can sell the property and pay off the loan. If you are on the loan, then you have to get your son to sell. If you are just on a contract, it depends on the terms.


    NEVER sign anything that you don't know what it means.
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