Wife pressured into signing faces repossession.greenspun.com : LUSENET : Repossession : One Thread
In the 1980's my father took two business development loans from a lender and pressured my mother into signing over the house as security against the loans. She was not offered legal advice as to the impact this may have. My father subsequently went bankrupt in the recession and the lender pursues my mother since then. She pays the mortgage with another lender. She has been paying small amounts to the lender of the business loans, who have accepted these payments for the past 6 years. Suddenly they want to repossess. My mother is not on a good income and has five years to retire. If she is forced to sell now there will not be enough money to pay the loan, the mortgage, and buy another place for her and my father and sister to live. If she goes to court is it likely that a judge will render the family homeless? I have heard that a child can put a "charge" on a family home (she is now over 18)? Does anyone know anything about this?
-- Lynda Fricker (email@example.com), August 19, 1999