QUESTION
how can I save my husbands Va loan, and will the third party be responsible?
Asked on Mar 09th, 2013 on Foreclosures - Pennsylvania
More details to this question:
There was a power of attorney signed when my family moved out of state. The broker was to pay the mortgage or sell the home through the loan co. The tenants he placed in the home to rent to own the home did not pay the mortgage for 6 months. I now find out that a few years ago there was a transfer done to the tenants from my and my husbands name. But not recorded as well as the power of attorney was not recorded in the county clerks office. My home now has a lien and i cannot get in touch with the broker, but the bank has. What to Do. What kind of Attorney do I need.
1 ANSWER
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How you handle a delinquency is based on your goals. If the house has equity, and you are looking to get proceeds from a sale, you need to address the transfer from your name first. If there is little or no equity, there is nothing you need to do with the house as it can simply be foreclosed on.
If you wish to sue someone for breach of fiduciary duty or fraud, you can. However, it is one thing to have a right to sue, and another to actually win and collect. You should speak to a lawyer to see if you have a case and determine if the likelihood of success and recovery justifies the attorney's fees, costs and time you will spend. If someone forged someone's name, that is criminal and the county D.A. should be notified.
Answered on Mar 16th, 2013 at 12:10 PM