OK let me start by saying we are in desperate need of some advice and some quick advice. My fiancee did a really young and dumb thing a few years back which was let her bestfriends brother get a house under her name, well half a house and the other half under one of his friends name. While everything was going fine for the first 2 years and seemed like a great way to build her credit up, so we thought. We just checked her credit for the first time in 3 years and little did we know he stopped making payments on the house last year and it is now being foreclosed, her credit score is 583 and says "Credit Grantor reclaimed collateral to settle defaulted mortgage" and account status is "Closed". He never told her anything about this and when she talked to him the other day he said he was trying to fix it before we found out. Now we wont even be able to get our own house when we get out of the military in a few months which was the plan. What should we do to possibly remedy this or dig ourselves out? We are both in the military and are both in a deployed location with limited communication so i know there isnt to much we can do over here but any suggestions please send them ASAP? The rest of her credit is flawless no late payments all in the green. Do we need a lawyer or is it too late? Thank you all that reply
honestly she doesnt really know what she signed because like i said it was a young dumb mistake, and she doesnt know the first thing about these things. All she knows is it is half under her name and social and half under his friends name and social as far as she knows. She has tried contacting Avelo which is the loan company for the mortgage and they found her loan number but sent her to another company that took over the loan which is M.D. Webb & Associates where they were using his friends name on the account but not her name but under her social. I hope this information helps you help us. If not please let me know what other info i can try and get you.
She should get copies of any papers she signed, and especially everything signed at closing. Since you are both in the military, I'd go to the JAG office and see if they can help. The fact that she is in the military and deployed may give her some additional rights here. I haven't kept up with all of the military laws as well as I should, but the JAG is a good place to start.
A lawyer??? I finally got the loan note from the company that gave the mortgage loan and it is not my signature. SO not I have proof of fraud. I know i need a lawyer but I don't know if I need a fraud lawyer or a forclosure lawyer! HElP!!!
Since you're military, I'd head to the JAG office. They can't represent you in something like this, but they could give you some advice and tell you what kind of attorney you need. They may even be able to refer you to a civilian attorney. They are usually the best starting resource for military personnel. So start there, then let us know what they say.
It depends on when the loan was taken and when service began whether it's covered by the Soldiers and Sailors Act. That's why a trip to JAG is critical. Besides, this sounds like a possible case of fraud or identity theft.
However, if it was co signed for there's not much you can really do in the short run. But you'd probably have a decent chance at an established credit union as often times, the individual loan officers will take extrenuating circumstances into account.
