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Mobile Home Purchase

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j. m. trujillo-new mexico

approximately 5 yrs. ago, my daughter asked me to assist her in purchasing a mobile home-she needed $2000.00 down. I advised her that the purchase was not in her best interests at the time. wife and daughter became upset and accused me of being inflexible and not willing to help a family member in any way.

i reluctantly agreed to advance daughter the $2000.00, but warned that her repayment ability, according to the terms, were not in her best interests and the likelihood of her being able to meet the terms and conditions of the agreement were unrealistic.

Once i advanced the $2000.00, my daughter was advised that she would need a co-signer. she notified my wife of this requirement and my wife co-signed the note without my knowledge and permission. my daughter subsequently had great difficulty in meeting her obligations and my wife is now being hounded for the monthly payments.

I became aware of the situation as a result of phone calls and letters of the failures of my daughter to make the required payments.

i was under the impression that in a community property state, like new mexico, both signatures of husband and wife are required in order to effect a transaction for the purpose of a purchase this nature.

i do not wish to ruin my daughter's credit nor my own, but my wife signed the purchase agreement and note without my knowledge or permission. she did so on her own because she knew that i would not agree to it. i advanced the down payment with the understanding that the financial obligation would be my daughter's alone.

now, both my wife and my credit are in danger because of this deception. my wife now realizes my apprehension to assist my daughter, but the damage is done. i do not intend to default on this obligation on behalf of my wife, but we cannot afford to accept it as our finances cannot accomodate the extra debt--what now?

j. m. trujillo

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