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    meravingian's Avatar
    meravingian Posts: 2, Reputation: 1
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    #1

    Apr 8, 2010, 04:59 PM
    My dad bought a house under my name, quit claimed, and stopped making payments.
    What the title says. I have the debt, but not the house. Now it is overdue nearly 83K, and the total bill is nearly 400K. I am unemployed, and have never made NEARLY that. I don't speak to my dad much anymore, this being a large reason why.

    What do I do?
    meravingian's Avatar
    meravingian Posts: 2, Reputation: 1
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    #2

    Apr 8, 2010, 05:01 PM

    Just to clairify, he had my permission to buy the house, and I gave him a limited power of attorney so he could handle the paperwork. I never expected him to take it from my name and leave me with the debt.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Apr 8, 2010, 05:39 PM

    Whether you expected it or not, you gave him the ability to do it. So, if I understand you, He bought the house but took out the mortgage in your name.

    Your only recourse is to sue him.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Apr 8, 2010, 05:41 PM

    So you let it foreclose and your credit is ruined. You may also consider bankruptcy.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #5

    Apr 11, 2010, 05:37 AM
    Quote Originally Posted by meravingian View Post
    What the title says. I have the debt, but not the house. Now it is overdue nearly 83K, and the total bill is nearly 400K. I am unemployed, and have never made NEARLY that. I don't speak to my dad much anymore, this being a large reason why.

    What do I do?
    You will want to sue him.

    But immediately record a lis pendens so that he cannot sell the house.
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