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John, you need to run away. How did your friend pay off the note on the other house? If you really want to help her, tell her to get an attorney and foreclose on the other house (assuming she is telling the truth and that this is in writing) then she can resell it and pay off this one. At this rate, you will be out of a home and money. If you absolutely feel that you must go through with this, make sure YOU have an attorney draw up papers, prepare the liens. That way you can foreclose if she does not pay.
John, this is a tricky situation. I can see that you could look at it as a good deal, but on the other hand, look at her age. She's not a YOUNG woman.
She could drop dead the day after you handed her the money. There is no guarantee that she would not develop cancer or some other expensive disease. Or require expensive surgery. The only way this would be safe is that your name would be on the deed too. Just lending her the money could be asking for trouble.
Hi, I would be put on her deed and I for sure go to a lawyer also. Her house in Michigan was sold to her long time friend. She gave her 125,000 but owed her another 61,000 dollars but she quit paying her a year ago. This lady signed over the title of her house in Michigan to her friend a year before she quit paying her. How I know this lady is telling the truth is her mother and three sisters live here. And I've talkied to them many times and been over to their house for dinner a few times.
Hi, I would be put on her deed and I for sure go to a lawyer also. Her house in Michigan was sold to her long time friend. She gave her 125,000 but owed her another 61,000 dollars but she quit paying her a year ago. This lady signed over the title of her house in Michigan to her friend a year before she quit paying her. How I know this lady is telling the truth is her mother and three sisters live here. And I've talkied to them many times and been over to their house for dinner a few times.
I am not sure I understand the entire situation and it sounds shady. As for hidden fees - for me I was looking at 45 days worth of interest payments that equaled another $2264. There is a post about this here:
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