S
shaman5150
Guest
What is the name of your state? california
in 2001 my father gave my brother and I a home with a mortgage of 150,000.00 . my brother went ahead and refinaced for an 275,000.00 and decided to move in the home with the intent on upgrading with a plan to sell in 2010. at that time in 2001 it appraised for 406,000.00. he has given me 75,000.00 over the past 2 years and now say's i have to wait until 2010 to get the rest. not only that , he also wants me to pay for the upgrade expenses along with closeing costs. shouldnt it then be base on a more recent appraisal? I feel im getting shorted somehow. How can we evenly split the equity of the home if he already refinanced? I think he's buying me out of my share, but what how much should i get and when should i get it?
in 2001 my father gave my brother and I a home with a mortgage of 150,000.00 . my brother went ahead and refinaced for an 275,000.00 and decided to move in the home with the intent on upgrading with a plan to sell in 2010. at that time in 2001 it appraised for 406,000.00. he has given me 75,000.00 over the past 2 years and now say's i have to wait until 2010 to get the rest. not only that , he also wants me to pay for the upgrade expenses along with closeing costs. shouldnt it then be base on a more recent appraisal? I feel im getting shorted somehow. How can we evenly split the equity of the home if he already refinanced? I think he's buying me out of my share, but what how much should i get and when should i get it?