What is the name of your state? Oxnard, California
I'll keep this as brief as I can. In 1998, my father-in-law passed away. He and his two sisters shared title on their mother's house. When he passed, his share went to his widow and his three daughters. One of his sisters signed over her share to the other sister, and his widow signed over her portion to the daughters. At this time, the remaining sister holds 7/9 title and the three daughters 2/9. There has been A LOT of bad blood between this sister and the rest of the family for years.
The sister has refinanced the house more than one time without consulting the daughters or getting their signatures. Now she is facing a balloon payment (adjusted rate-idiot!) and the daughters are facing having the house foreclosed and losing their inheritance through no fault of their own. They have retained a lawyer to fight for their interests, but recently a judge ruled against them forcing a sale of the house to recover their lawyer costs and get their share of the proceeds.
Is this woman possibly facing criminal charges for doing a refi without the others signing on? How was she able to do this (according to her attorney, there is "a cloud on the title [?!]) legally? Is there anything else they can do without losing everything? My wife would prefer at this point to just get back what they have paid plus what their mother put into financing this boondoggle and she feels that the lawyer they have is not being tough enough. Is there really no way to force the sale of the house or can
they pull money out of the house, as well? Maybe a reverse mortgage?
I really would like some advice-this is causing a lot of grief on one side of the family.
Thank you.What is the name of your state?What is the name of your state?
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