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Old 01-31-2006, 09:43 PM
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Join Date: Jan 2006
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Home owner vs Mortgage holder


I have a very complicated situation. My partner had financial problems and was in foreclosure. He found a friend to take over the mortgage. He remained in the house and has made all mortgage payments and paid all taxes. There was a written and notarized agreement between the two that the friend was only the mortgage holder. Six months ago, I wanted to assume the mortgage. To leave out the many details, the friend lied and the assumption never happened. He later said he would only sell to my partner (knowing he wouldn't be approved) or to someone else for 50% of the profit. The home value has skyrocketed and it is worth over double than what the friend paid 2 years ago. Recently, my partner wanted his name on the deed. This is where the big issues began. The friend is now saying he is going to "take over" the house and kick us out. Can he do that legally in FL? Do we need to file this agreement with the county clerk? I'm worried, yet very confused as the friends intentions are very obvious. Help us please. We've worked hard and put alot into this place.
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Old 01-31-2006, 09:47 PM
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Join Date: Aug 2005
Location: St. Odo of Cluny Parish
Posts: 27,470
Quote:
Originally Posted by aggrevated
I have a very complicated situation. My partner had financial problems and was in foreclosure. He found a friend to take over the mortgage. He remained in the house and has made all mortgage payments and paid all taxes. There was a written and notarized agreement between the two that the friend was only the mortgage holder. Six months ago, I wanted to assume the mortgage. To leave out the many details, the friend lied and the assumption never happened. He later said he would only sell to my partner (knowing he wouldn't be approved) or to someone else for 50% of the profit. The home value has skyrocketed and it is worth over double than what the friend paid 2 years ago. Recently, my partner wanted his name on the deed. This is where the big issues began. The friend is now saying he is going to "take over" the house and kick us out. Can he do that legally in FL? Do we need to file this agreement with the county clerk? I'm worried, yet very confused as the friends intentions are very obvious. Help us please. We've worked hard and put alot into this place.
Get a title report from a local title insurance company to see who owns what and what liens are on the place.

Then hire a real estate lawyer to help you sort it out.
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