My father and I co own a house that went into foreclosure . He requested that I send $5000+ dollars for a loan modification . The loan modification company tells me that they only received $1659.09 at the time the loan was modified . My father pocketed the rest and we ended up borrowing these same funds again as the loan was modified . He is unresponsive to any attempts to contact by phone or through messages passed on by relatives .
The lender is only concerned with the fact that you were delinquent in payments.. resulting in a foreclosure action.. and will not give deference to the fact that you father essentially, and presumably, stole/misappropriated monies in conjunction with a proposed loan modification. The fact that you attempted to modify the loan, unsuccessfully, will not be a profound mitigating factor or affirmative defense in the foreclosure action...as the bank will claim that they received only partial payment in conjunction with same attempt/option. It appears that your situation is more rooted in litigation involving theft and misappropriation of monies, resulting in consequential damages... and not foreclosure. I will therefore move your question to the correct forum where esteemed litigators may be able to assist you. Good luck to you.
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You may have grounds to file a lawsuit, assuming the $5000 was not a gift, and he actually intended to repay you, or you had some sort of written or verbal agreement that the funds were to go towards a specific purpose and they did not. This will be costly, and any oral agreements will have to be proven up in Court. A better option is to sell the house, and split the proceeds, call it a day and move on.
How unfortunate. It is unclear to me whether the money was going to pay the company negotiating the modification, or a payment to the mortgage company. In any event you can sue your father under a variety of contract remedies. Fraud comes to mind. However, as someone already asked, do you really want to sue you dad?
tough case. You could sue your father in small claims court for not putting the money towards where he told you it would go. its going to be his word against yours and a very unfortunate situation. i would recommend if anything small claims because you can do that yourself and might settle at mediation. Also he probably wont show up and you can get a default judgment. Good luck.
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