Question Details

Barbara Trac…, Home Seller in Oakton, VA

I signed a contract with an investor and he was supposed to make my house payments, keep the house up and

Asked by Barbara Tracey, Oakton, VA Fri Aug 22, 2008

move a renter in that he would eventually finance. He never makes the payments ontime and on two occasions he has not made the payment at all. Can I get out of this contract and take my house back since he is ruining my credit.

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I'm not getting the full picture here. If this is your home and the deed should state that and the mortgage is in your name I question the motive of the investor. Do you have equity in your home? Sounds like he is attempting to take your property by 1st step: have you default on your loan and cause it to go into forclosure where he would pay the Lender off and sell your home for its equity and you get nothing but bad credit. But I'm unsure without seeing your contract. I suggest that you speak with an attorney or Realtor in your area.
1 vote Thank Flag Link Fri Aug 22, 2008
You may need a real estate attorney for this case. Not knowing all the facts, all I can say if that if I had your problem, I would foreclose and take the house back. But it depends what has been agreed in writing.
0 votes Thank Flag Link Fri Aug 22, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
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