I have a mortgage on my name but house is not on my name anymore, person responsible for paying the
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he puts his name on deed, but the mortgage is on my name, i dont know if deed and title are the same papers.
I have a mortgage on my name but house is not on my name anymore, person responsible for paying the mortgage?Sadly, this type of thing happens more often than people realize. It's important to trust your instincts from the beginning. If something doesn't seem right - ask questions, and if in doubt, get out.
I'm sorry you've found yourself in this situation. It will not be an easy one to get out of. I would do as these other fine people have suggested and retain a lawyer, then report this guy. A similar thing happened to my brother-in-law and he wound up losing tens of thousands of dollars plus having a foreclosure on his record that prevented him from buying a house of his own for a few years and also will cause him to pay a higher interested rate due to the impact on his credit, and who knows how much that will end up costing him. (BTW, it was also a relative that did this to him.)
I hope you can take this as a lesson learned that if it sounds too good to be true, it probably is.
I don't live in NJ and I'm not a lawyer, but I'll give you this advice. Keep track of all of your paperwork (including any correspondance and e-mails.) It may be a good idea to send a certified letter to him wherein you explain the situation and detail the oral agreement you had. I'm sure a lawyer can give you advice on this, but anything you can do to get him to sign something in writing will be to your advantage, such as a contract, IOU or a promise to pay.
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