What is the name of your state? North Carolina
This is kind of a crazy story - and I hope I'm posting it in the right section.
My wifes grandmother passed away a few years ago. My wifes uncle is the executor of the estate. Since her death, the uncle has been paying the interest only on a loan that was taken out less than a year before her death. To date he has paid roughly $30k - and just in interest. Recenlty, while cleaning out the house he ran across the loan papers for this particular loan. He knew that his now deceased sister and her husband had persuaded his mother to get this loan for them. The house was put up as collateral, and the last few mortgage payments were made with a small portion of the money from the loan. The rest of the money went up in smoke in the brother-in-laws hands. In the papers that were found it was quite evident by everyone that the signature on the paperwork was NOT his mothers. At the time of the loan she was capable of writing, and he does have other documents, etc.. with her signature. It is believed that it might have been his now deceased sisters handwriting - but at this time he's not 100% sure. However - he is definetely sure that it is not his mothers signature.
He has been paying the interest on the loan because the sale of the house will pay the entire debt - roughly $32k. After finding these documents, the whole family is now wondering if we can contest the validity of this loan. It obviously isn't his mothers signature, and he was only paying the interest payments in good faith as he believed it was a validly signed loan.
Besides getting an attorney involved right away - does anyone have a link or reference to exact locations of state laws that would deal with this? I've searched myself a bit - but haven't run into anything yet.
Thanks,
This is kind of a crazy story - and I hope I'm posting it in the right section.
My wifes grandmother passed away a few years ago. My wifes uncle is the executor of the estate. Since her death, the uncle has been paying the interest only on a loan that was taken out less than a year before her death. To date he has paid roughly $30k - and just in interest. Recenlty, while cleaning out the house he ran across the loan papers for this particular loan. He knew that his now deceased sister and her husband had persuaded his mother to get this loan for them. The house was put up as collateral, and the last few mortgage payments were made with a small portion of the money from the loan. The rest of the money went up in smoke in the brother-in-laws hands. In the papers that were found it was quite evident by everyone that the signature on the paperwork was NOT his mothers. At the time of the loan she was capable of writing, and he does have other documents, etc.. with her signature. It is believed that it might have been his now deceased sisters handwriting - but at this time he's not 100% sure. However - he is definetely sure that it is not his mothers signature.
He has been paying the interest on the loan because the sale of the house will pay the entire debt - roughly $32k. After finding these documents, the whole family is now wondering if we can contest the validity of this loan. It obviously isn't his mothers signature, and he was only paying the interest payments in good faith as he believed it was a validly signed loan.
Besides getting an attorney involved right away - does anyone have a link or reference to exact locations of state laws that would deal with this? I've searched myself a bit - but haven't run into anything yet.
Thanks,