QUESTION
Is a mortgage signed in a mental hospital legal? House owned by both but he took the loan out while paranoid and suicidal?
Asked on May 04th, 2015 on Contracts - California
More details to this question:
I have lived in this house since 1974. My husband had a mental breakdown in April 2007 and contacted a person who got him into a loan with World Savings and Loan (now Wells Fargo). He was put into a mental hospital for paranoia and suicidal reasons. While he was there the loan papers were brought to him (under lock up) and he signed them. My 95 year mother and I are on the deed but NOT on the loan. I am 71 and we can't pay the mortgage and modification didn't help. '
1 ANSWER
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Doland & Fraade
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Yours is the one exception that makes one stop and consider. You would really think the bank would have considered "capacity" in this one case. You should contact an attorney and if I had a referral I would surely provide it. it's a disgusting story and if you get to a jury ...
Answered on May 04th, 2015 at 12:08 PM