Is this contract binding

[Taxing Matters]

The mortgage company is still trying to collect the amount owed.

How is the mortgage lender trying to collect? The house is apparently no longer owned by the husband so foreclosure is not on the table at this point. The lender would have to sue to obtain a judgment to collect anything else on the loan. Has the lender done that?

 

[Cowgirl7181]

What proof is there of the impairment existing at the time of signing?

Medical records showing he was undergoing chemotherapy and narcotics at the time. He had home health care so I'm pretty sure there is records there.

 

[Cowgirl7181]

How is the mortgage lender trying to collect? The house is apparently no longer owned by the husband so foreclosure is not on the table at this point. The lender would have to sue to obtain a judgment to collect anything else on the loan. Has the lender done that?

Collection agency keeps sending letters.

 

[quincy]

Collection agency keeps sending letters.

The debt could be time-barred if the contract was signed in 2008. Is there a judgment against the man?

 

[Cowgirl7181]

The debt could be time-barred if the contract was signed in 2008. Is there a judgment against the man?

No.

 

[quincy]

No.

Someone has been paying on this debt? When was the last time a payment was made on the debt? Who made it?

 

[Cowgirl7181]

Someone has been paying on this debt? When was the last time a payment was made on the debt? Who made it?

The ex wife has been paying on the debt. She acknowledges her part.

 

[Zigner]

Medical records showing he was undergoing chemotherapy and narcotics at the time. He had home health care so I'm pretty sure there is records there.

Again, undergoing chemo and being prescribed narcotics does not necessarily mean that one is incompetent.

 

[PayrollHRGuy]

@Cowgirl7181

Did you know the person in 2008, have constant contact with him then?

 

[Cowgirl7181]

@Cowgirl7181

Did you know the person in 2008, have constant contact with him then?

Yes I knew him. Constant contact, no

 

[PayrollHRGuy]

Yes I knew him. Constant contact, no

So you aren't a witness to his inability to understand what he was signing.

 

[quincy]

The ex wife has been paying on the debt. She acknowledges her part.

Thanks for the additional information.

Although I don’t think it too likely that the man can escape his own obligation, the balance remaining on the loan is high. It might be smart for him to speak to some attorneys in his area to see what they think.

If he doesn’t have an income or attachable assets, by the way, he could also be judgment proof, should the creditor decide to sue.

 

[Zigner]

The fact that he didn't argue the validity of the contract during his divorce means something too... Not that it has a direct bearing on the matter, of course.

 

[LdiJ]

Ok so sorry. Yes he was married at the time it was signed. Him and his wife took out a second mortgage. He owned the house prior to the marriage. It was signed in 2008. The house itself no longer exists. The mortgage company is still trying to collect the amount owed. Yes his wife knew he could not read and that he was under the use of medications that can impair judgement. The amount was around 40000. Their is still about 20000 owed.

In what manner does the house no longer exist? Was it repo'd, destroyed in some way? Sold somehow without there being a lien from the mortgage company? Explain that part.

 

[Cowgirl7181]

P l

In what manner does the house no longer exist? Was it repo'd, destroyed in some way? Sold somehow without there being a lien from the mortgage company? Explain that part.

Bulldozed down by the mortgage company