gns

Hi Everyone,

xabf "announced" he will not be paying mortgage anymore in december. House is for sale, no one living there.
I have paid the mortgage myself for december and january.
We are going to lose 100K combined on the house. He has money in his retirement account and I have real dirt that could cause him to lose his job and his license which I am thinking about threatening him with to cough up money at closing.

I REALLY want to rspond back, threaten him and/or sue him!! I want my money!!!!

Sis says let go and move on. What do you think??


-----Original Message-----
From: ME
Sent: Wednesday, February 04, 2009 7:46 PM
To: AXBF
Subject: house

Obviously, you will not be claiming any interest deductions for the mortgage
on the house. I have submitted a letter to the IRS already.

I am submitting paperwork to National City for a hardship deferment. If the
house does not sell by march, the process to start foreclosure will begin.

If the house forecloses, you will almost certainly be unable to obtain a
loan for a car or move to another rental property (unless you know someone
who trusts your "credit worthiness") without someone with good credit
cosigning for you (and thus becoming 100% responsible for your debt) for at
least 5 years. The foreclosure remains on your credit report for 7-10 years.




HIS RESPONSE......................



I will be claiming half the interest for the year 2008 as I paid half every
single month including December. January was the first month that I didn't
pay.

I know that I have legal standing on this issue as I can prove the transfers
of money, AND you do not have a signed agreement from me stating that it is
OK to claim all the interest. If you do claim the full share, you are the
one at risk of an audit from the IRS and I am in the clear.

I will not claim anything on my 2009 taxes next year.

I fully understand the implications of a foreclosure.

Freedom1990

I would at least consult with an attorney.

winnie12

Only an attorney can answer these questions for you.

Callie

3rd the attorney. That's alot of $ to mess around with. Most attorneys at least do a free consultation so you know where you stand legally. I'd also do it quickly before taxes are filed. I'd hate to get messed up in an IRS mess.

Seren

No idea....the attorney sounds like your best bet....

Good luck!
HG

MyJoey

I don't know your whole story, but would you want to buy him out of his half the house? If not then I would be renting it out to someone before letting it go to foreclosure. I don't think threatening him will help, that will just cause harder feeling.

whereami

May I just say he sounds like a jerk! I am glad you aren't dealing with him on a personal level, talk about scary...he must have been manipulative. I am glad that after all is said and done you will be at peace away from him...

littlebird77

Like everyone else I would consult an attorney. Who's name is on the deed would matter the most.