quit claim?

[thetikiman]

My state is Florida. I unknowingly signed a quit claim deed eleven years ago with my neighbor who took advantage of me, when I thought I was selling it to him. It is a duplex in cocoa beach Florida and has turned my life upside down since. My neighbor, "bill" has since then been late on mortgage every month and has been collecting rent and picketing the money since Oct 8, 2008. My credit has been upside down ever since and bill is uncooperative, what can I do?

 

[randolph76]

How did you unknowingly sign a quit claim? If you sold it to Bill then how does it affect your credit? Did you not get your name off the mortgage as well?

 

[justalayman]

Did you not get your name off the mortgage as well?

I think you win the prize on that one.

I suspect the OP sold the property and they agreed the buyer would pay OP's mortgage.

So, what can you do now?

check your mortgage loan to see if there was a due on sale clause because once you start stirring things up, the lender is going to become aware of what you did and if there is a due on sale clause, they are likely going to call the note due.

Other than that, since your lack of understanding what you were doing is what got you into this situation, I would strongly suggest speaking with a lawyer to see if you can get out of the situation.

 

[nextwife]

Good grief. Doesn't anyone take the time to make certain they are selling PROPERLY and paying off their underlying loans at closing?