Q: Mother and son on deed of home, mother is only on mortgage loan, she pulled out $260k of equity, son never knew.
Mother and son on deed, paid her over 25 years of payment, we never knew she taken multiple equity loans from home, now she defaulted this loan, our home is under trustee auction, doesnt the son need to sign and authorize also????? if this is fraud on her taking money out without the son's approval also, how much prison time does she have to serve???
A: An attorney would have to review your documents to give you a full consultation. It depends on whether the mother only encumbered her half of the property. If she did, then a trustee sale would only be as to her half. If she somehow forged the son's signature, then that's a different story with different consequences.
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