he says he did it while he was in college cause he needed money to pay off student loans, he says that the people had bad credit so on two different occassions he let them use his name to attain a mortgage for using his good credit. i think he said he signed over power of attorney and for him allowing them to use his name, he got paid... since then both properties are in the process of being foreclosed upon (this is probably why the people couldn't get a mortgage on their own credit. does anyone know what this process is called? is it legal? and how should we handle the fact that his credit has now been ruined by two other people and they are threatening to garnish his wages because of the foreclosure, when he doesn't even live in these homes and the mortgage is simply under his name and social security number...is there anyway around this? legally? since technically he signed over all rights? can anyone help us out?
My boyfriend did something where he signed over power of attorney for mortgages...?
It's called a %26quot;Straw buyer%26quot; highly illegal and your bf and the parties that used him as a straw buyer will probobly face legal action from the mortgage companies that are foreclosing.
Tell your bf ignorance of the law is not an excuse. Sux but that's the facts. Get an attorney TODAY! or he could be facing jail time for fraud.
My boyfriend did something where he signed over power of attorney for mortgages...?
See a lawyer. One that has a VERY good reputation in civil law. And do a LOT of praying. As it stands he is legally responsible for these mortgages.
My boyfriend did something where he signed over power of attorney for mortgages...?
Those are his other women. There is no power of attorney to use your name. He co-signed the loan or he signed the loan himself. He is a liar and a cheat. Dump him.
My boyfriend did something where he signed over power of attorney for mortgages...?
Man that sucks. The only thing I can suggest is to get an attorney. On the surface though I do not think there is much you can do if he really signed that P.O.A. Good luck!
My boyfriend did something where he signed over power of attorney for mortgages...?
OMG! I don't have an asnwer, but that was not a very wise decision your bf took. Maybe he can sue these ppl that screwed him over if he had a signed agreement with them, so he can collect the money. Or maybe he can file for bankruptcy...not sure. But he would've been better off taking a student loan, since you allegedly say he had great credit.
My boyfriend did something where he signed over power of attorney for mortgages...?
I don't think this is legal... at least not the way you've explained it. If he gave them his identity information to obtain the credit, then he could be in trouble. If he signed anything to assist these other people in getting credit and then took money from them for doing it, then there could be legal trouble.
I'd try to find out exactly what happened, and exactly what documents were signed by your boyfriend. He may have damaged is credit for a long time to come and by subject to judgments, levys or liens.
My boyfriend did something where he signed over power of attorney for mortgages...?
I'm no expert on this but I can offer my opinion.
If he willingly signed over rights and priveleges to someone else that would allow and grant them permission to use his name, social security number etc in order to obtain real estate or anything for that matter, he can be held legally responsibly.
There can be a loop hole if he was not of age at the time of consent, or they can not find the proper documentation proving that he did in fact allow it.
Also, if he wasn't the one to technically sign the paperwork (for the mortgages), he may be free and clear. ( That is if the paper he signed didn't state that so and so had the authority to sign his name on documentations..this letter would have to be notarized as well and he'd have to be present and prove his Id to the notary).
However, you said he signed something that was allowing someone else to use his information. Thats fraudulent. He can be convicted of fraud since he took money in exchange.
Contact a lawyer ASAP!
My boyfriend did something where he signed over power of attorney for mortgages...?
How does someone get not one, but two mortgages while in college without the income to pay? Sounds like someone is making up one scam to cover a different scam. Your best move is to scram before he screws you over big time. Seperate your finances from him and run away very quickly, or your going to end up getting conned into paying his %26quot;bills%26quot;.
My boyfriend did something where he signed over power of attorney for mortgages...?
First of all, what your boyfriend was nice... but very stupid. You need to revoke the power of attorney immediately. I would see an attorney ASAP, and if you don't have one, then look in the yellow pages for a real estate attorney. Also, I would recommend finding a non-profit credit counseling service to help get his credit score back on track. Unfortunately, this will ultimately negatively effect his credit score for several years down the road. The sooner you get this fixed the better. Good Luck!
My boyfriend did something where he signed over power of attorney for mortgages...?
not sure I understand this but sounds similar to what I did for my girlfriend...I used my credit rating to get her an apt. but this is a rental not a house. I would ask your bf what did he sign? .He must have co-signed on the loan, if so then it falls back on him if the buyer did'nt make the payments.
Lesson learned is don't loan money or co-sign for a loan, the people you are helping may be honest people but what if something happens and they lose their job and can't make the payments??
My boyfriend did something where he signed over power of attorney for mortgages...?
Sounds like he is either a co-maker on the note or a guarantor on the loan. Either way, he is personally liable for the mortgage in arrears. He will need to seek the advice of an attorney and I highly urge him to speak to a bankruptcy attorney because that might be his only recourse to protect his income/assets.
My boyfriend did something where he signed over power of attorney for mortgages...?
What happened is this? The folks buying can't afford to buy so they use his credit to get the mortgage under his name. Since he's too busy to attend the closing, he gave the people a power of attorney to sign the closing papers.
Here's what's happening. The people can't afford to pay the mortgages and the houses are in foreclosure. Your boyfriend, has 1 of 2 choices. Try to sell the house because I'm sure if he signed the mortgage he's on the deed or try and catch up on the payments and then sell the house.
I'm pretty sure that since his name is on the mortgage, he's listed as an owner on the deed.
Pretty crappy way to earn money in college. When I was in college people used to go and donate plasma or sperm.
Good luck
My boyfriend did something where he signed over power of attorney for mortgages...?
seeing that he signed over power of attorney i think but not sure, those people could be liable and his wages can't be touched because of what they did to him. he should get a lawyer though.
My boyfriend did something where he signed over power of attorney for mortgages...?
Your boyfriend is unbelievably D_U_M_B.
His credit is trashed. He will probably have to declare bankruptcy.
Let him know... then dump him. Run Fast.
My boyfriend did something where he signed over power of attorney for mortgages...?
Assuming that mortgage fraud was not involved, what he did is perfectly legal. If he's soley on title, then he needs to sell the properties fast, maybe to an investor.
I would get an attorney at this point.
Regards
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