Hey Folks I'm In Big Trouble And Need Help

[USA4ME]

I don't see anything about a third mortgage. I think brother paid off the 2nd in exchange for having his name on the house, so there's only one mortgage on the property.

I agree it's more complicated than what I've briefly said, but the NCAA Tourney's on and I'm not going to type out a bunch of stuff on this.

stewert will be leaving within a year.

.

[vesta111]

Thanks, sir; that's what I wanted to know.

So you moved in with your father when you could no longer work but managed to come up with $450.00 a month to help out.

Once your brothers name was on the deed he was responsible for taxes and any mortgage payments.  

Your brother paid $32,000 to your dad for his home, you just bunked out there and somehow came up with rent for a place to live.  

Is the home worth enough to repay your half brother back for his investment if the selling price is split 3 ways ?

Sorry my good man but this just doesn't fly, to recoup the investment the half brother put in the home would have to sell for almost a million bucks if split 3 ways.  Then the taxes and upkeep would be taken into consideration.

I would be darn pissed if I bought a home from my family, allowed them to live there and when they passed away some other family member came in to claim they owned part of the home because they lived on the property.  

You have no case, your brother bought the property fair and square and allowed your dad to live on it.   You moved in and stayed with your dad but when he died the property belonged to the owner, your brother.  

[Carl]

I initially agreed USA... then I saw the below.  


Welll... we got a little problem here. Assuming this is true.

Let us look at the so called facts:

1. Dummie's dad had a 2nd mortgage.
2. Dummies brother paid it off and had the house put in his name.
3. Dad took out a third mortgage on the house. The house that is no longer in his name?
4. dummie claims the will said the dummie and second brother are cowners.

First off... any bank worth their salt is gonna demand the deed. If it ain't in Dad's name, no mortgage. Unless the brother cosigned for the mortgage. If so, that changes everything. Seems to me the 3rd mortgage bank would have first dibs on the house from the estate or if it is indeed in brothers name, then he owes it.

This BS just don't add up. Now there could be other things going on here. Like brother owns the house but dad can live there until death. Mom got that on her house.  Still don't think the bank is gonna do a mortgage on a setup like that. Unless it was secured by something other than the house.

Like I said... this don't pass the smell test. Not a bit of it.

Personally I think the dummie is lying and the original scenario is true. The dummie wants to raise the 32,000 and some extra to boot. Dummie's brother is gonna kick his worthless butt out to the street. At least the brother waited until after winter.

Edited to add:

BTW... what attorney worth his salt is gonna tell his client to give his brother a hand written note? I understand that it was notarized, but all that means is the person that signed it is indeed who the note claims it is.  No notary worth his/her salt is gonna notarize a hand written note. I know, I was a notary public years and years ago. Not for something like that. At least I wouldn't do it.

I take it that Steve/Stewie is claiming to be paying off the original mortgage (not likely he did but for the sake of argument).
At that point,oh well too bad so sad...he could have not and then either Butch would have had to or foreclosure.

It would seem though that a deed could not be transferred without the original mortgage being satisfied although perhaps somehow it can happen.

My guess is the 2nd mortgage was not in addition to a 1st but taking out a mortgage on a paid for home to use it as an ATM of sorts.
Butch paid that,took ownership and Stewie is lying.

[BannedFromDU]

     Anytime any DUmmy posts anything about a problem they're having, it's always accompanied by arcane "facts" and a plotline so circuitous it makes A Family Circus cartoon look like a Marine hike. My take? "Stewert" is at best lying, and is at worst a serial scammer who's been running the same gap for years. His Social Security hearing has been just a few months off for just a few years now.

     All of which to say, PLEASE, DUmmies, give to Stewert. It is supremely entertaining.

[Carl]

The more I think about this the more Steves tale of woe falls apart.
Perhaps Karin,as a person knowledgeable of real estate matters could help too,but how can Butch have a clear deed with an outstanding mortgage in his fathers name?
I just don`t think that can happen.

If I am correct then either the 2nd mortgage was,as I said,not and additional one but another one after the first was paid.
Butch satisfied it and in return essentially bought the house,the deed was transferred and that was that.

If Steve did somehow pay off the first mortgage for the father well too bad,so sad...I can`t imagine any recourse and would be tantamount to paying rent.

Steve is both stupid and a liar but that goes without saying for a DUmbass.

[USA4ME]

It would seem though that a deed could not be transferred without the original mortgage being satisfied although perhaps somehow it can happen.

The deed wasn't transferred, it was simply quit claimed to the brother in exchange for $32K. As long as the bank gets their mortgage payment, at this point they aren't going to care. Best case scenario for brother: House gets sold, 1st mortgage gets paid, closing costs are paid, realtor is paid, then $32K gets paid. If any left, that's up to the brother. Looks like that house better go for around around $85K+ when sold in order for everyone to get their money.

If I recall, the brother was the executor of the Dad's estate, which in most states the executor is given a certain amount of time to deal and wrap-up matters (my parents were Florida residents and my brother as executor had 18 months).

But the deal was to loan Dad $32K and in exchange he gets the house. That was his remedy to recoup the money.

.

[Carl]

The deed wasn't transferred, it was simply quit claimed to the brother in exchange for $32K. As long as the bank gets their mortgage payment, at this point they aren't going to care. Best case scenario for brother: House gets sold, 1st mortgage gets paid, closing costs are paid, realtor is paid, then $32K gets paid. If any left, that's up to the brother. Looks like that house better go for around around $85K+ when sold in order for everyone to get their money.

If I recall, the brother was the executor of the Dad's estate, which in most states the executor is given a certain amount of time to deal and wrap-up matters (my parents were Florida residents and my brother as executor had 18 months).

But the deal was to loan Dad $32K and in exchange he gets the house. That was his remedy to recoup the money.

.

Possible then,fully admit I don`t understand all the intricacies that could be involved other then it seems obvious that Steve has no legal ground to stand on.
This makes God smile. 

[Delmar]

He is just going to trash the place, if he hasn't already.

[I_B_Perky]

I take it that Steve/Stewie is claiming to be paying off the original mortgage (not likely he did but for the sake of argument).
At that point,oh well too bad so sad...he could have not and then either Butch would have had to or foreclosure.

It would seem though that a deed could not be transferred without the original mortgage being satisfied although perhaps somehow it can happen.

My guess is the 2nd mortgage was not in addition to a 1st but taking out a mortgage on a paid for home to use it as an ATM of sorts.
Butch paid that,took ownership and Stewie is lying.

Now that is something I had not thought of Carl. I understood it to mean there was another mortgage taken out after the second.  I swear dummies could screw up a wet dream.

The deed wasn't transferred, it was simply quit claimed to the brother in exchange for $32K. As long as the bank gets their mortgage payment, at this point they aren't going to care. Best case scenario for brother: House gets sold, 1st mortgage gets paid, closing costs are paid, realtor is paid, then $32K gets paid. If any left, that's up to the brother. Looks like that house better go for around around $85K+ when sold in order for everyone to get their money.

If I recall, the brother was the executor of the Dad's estate, which in most states the executor is given a certain amount of time to deal and wrap-up matters (my parents were Florida residents and my brother as executor had 18 months).

But the deal was to loan Dad $32K and in exchange he gets the house. That was his remedy to recoup the money.

.

Now that makes some sense.  I'm pretty stupid when it comes to stuff like that. I only ever had one mortgage and that has been paid off for so long I done forgot how the particulars went. I do remember it was a daggoned pain in the ass getting it. 

[I_B_Perky]

Possible then,fully admit I don`t understand all the intricacies that could be involved other then it seems obvious that Steve has no legal ground to stand on.
This makes God smile. 

I'll smile when he is standing on the corner with a sign saying "Homeless, please help".   

[franksolich]

I'll smile when he is standing on the corner with a sign saying "Homeless, please help".   

stew's got a big fancy pick-up truck his ancient father bought him; I dunno why he can't use that for collecting aluminum cans off the streets and sidewalks of Peoria--surely Peoria has a litter problem--and when the bed of the truck's full, he can sell them to a recycler for a goodly amount of dough.

[GOBUCKS]

Wasn't the house supposed to have been on the market during one of stew's panhandling threads a couple of months ago? The listing showed ol' stew's bedroom with the bed unmade.

stew needs to open an o'reilly-sucks.com internet store. He could cash in like Crazy Andrea and DUmmy Taverner.

I'm sorry z-man dropped a dime on stew. His threads are always entertaining.

[98ZJUSMC]

Quote
zappaman (11,400 posts)    Sat Mar 22, 2014, 07:11 PM

25. You certainly ask for money quite a bit.

In fact, every OP on DU in the last year has asked for money.

http://www.democraticunderground.com/10023561214

http://www.democraticunderground.com/10022854343

http://www.democraticunderground.com/10023629357

http://www.democraticunderground.com/10023693497

http://www.democraticunderground.com/10023944554

http://www.democraticunderground.com/10023971521

http://www.democraticunderground.com/10024379384

http://www.democraticunderground.com/10024583778

http://www.democraticunderground.com/10024610633

Hilarious!

 Please, sir   may I have some $32,000.00?

Wasn't the house supposed to have been on the market during one of stew's panhandling threads a couple of months ago? The listing showed ol' stew's bedroom with the bed unmade.

That's right.  Had a Realtor listing and all, as I recall.  No house-flippers in the area, I guess.....

[GOP Congress]

You know, I was wondering if I could send him, say, 2 cents, along with some advice? I gotta get rid of a bunch of 2 cent stamps I don't really use, so the envelope would be rather interesting as well.

[I_B_Perky]

stew's got a big fancy pick-up truck his ancient father bought him; I dunno why he can't use that for collecting aluminum cans off the streets and sidewalks of Peoria--surely Peoria has a litter problem--and when the bed of the truck's full, he can sell them to a recycler for a goodly amount of dough.

That requires a 4 letter word, Frank. Work. Dummies work harder avoiding work than they would if they would just get a job.

[Dori]

Sounds to me like old dad had a first and second and couldn't make ends meet on his SS.  Butch came in and paid off the second and had it refinanced to a lower interest rate and put in his name on the deed.

I don't think Butch wants anything, other than getting his money back from the second and getting out from under the dump of a house and his wacko dump half brother.

[tanstaafl]

That's right.  Had a Realtor listing and all, as I recall.  No house-flippers in the area, I guess.....

If you've ever been to Peoria, except for along the Illinois River bluffs, it's a dying DUmp. Even the operating utility for  couple of power plants in the area had a hard time giving them away.

Plus, the abandoned CAT plants and Grain Elevators along Hwy 9 make that road a scenic must see for ghost hunters. Peoria needs a 500 year flood to act as a good enema and clear out the ramshackle abodes.

[formerlurker]

The more I think about this the more Steves tale of woe falls apart.
Perhaps Karin,as a person knowledgeable of real estate matters could help too,but how can Butch have a clear deed with an outstanding mortgage in his fathers name?
I just don`t think that can happen.

If I am correct then either the 2nd mortgage was,as I said,not and additional one but another one after the first was paid.
Butch satisfied it and in return essentially bought the house,the deed was transferred and that was that.

If Steve did somehow pay off the first mortgage for the father well too bad,so sad...I can`t imagine any recourse and would be tantamount to paying rent.

Steve is both stupid and a liar but that goes without saying for a DUmbass.

$450 a month is called rent - cheap rent too.   He doesn't have a claim for anything. 

[Gina]

This crap is so old.  Such a disgrace.  And Delmaris right, I bet Stewart trashes the house on his way out.  That's what freeloaders do.

[longview]

I was going to warn "Butch" that there won't be an inch of copper left in the old place, but realized that takes more effort than begging from strangers.

Still, Butch can probably expect a few broken cabinet doors, cracked mirrors and some ill-placed excrement when he finally gets the freeloader out of the house.

[BadCat]

You know, I was wondering if I could send him, say, 2 cents, along with some advice? I gotta get rid of a bunch of 2 cent stamps I don't really use, so the envelope would be rather interesting as well.

Please do, PayPal charges him more than that to process the payment.

And that letter...no last names, no addresses...the 'notary' signature looks like a man's writing, even though the stamp has the name "Alana"....it's about as legal as faggotry in Iran.

[Gina]

Still, Butch can probably expect a few broken cabinet doors, cracked mirrors and some ill-placed excrement when he finally gets the freeloader out of the house.

But you know he will boast about what he did so we need to be ready to screen capture it for his brother 

[wasp69]

And that letter...no last names, no addresses...the 'notary' signature looks like a man's writing, even though the stamp has the name "Alana"....it's about as legal as faggotry in Iran.

Ding, ding, ding....  Was thinking the same thing.

[Skul]

But you know he will boast about what he did so we need to be ready to screen capture it for his brother 

I think you're right about that.
The brother would thank us for it.

[BannedFromDU]

Please do, PayPal charges him more than that to process the payment.

And that letter...no last names, no addresses...the 'notary' signature looks like a man's writing, even though the stamp has the name "Alana"....it's about as legal as faggotry in Iran.

Once again, BadCat shows the way. ^5