my dad helped me buy a home ,it was a hud home there is a short window for first time home buyers I was a first time home buyer my dad was already buying a home ,the real estate women told my dad that the only was he could help me was to make a gift letter for hud and put a cash offer in they always take a cash offer over non cash offer . so my dad signed the letter stating he was gifting me 40,000 dollars to complet the sale out of his refinancing of his home she all so told him that the home has to be in my name only ,so we went to the bank and told them how it had to be done they ask him if he know that the money was going to the hud in my name only he said yes and he asked for a 30 yr mortgage and then 5 months later was telling every one I stold his equity now my dads ex is involved she used to work at adult protective services and I now get a letter all most 2yrs later from a attorney stating I have committed financial elder abuse 15610.30 my x step mother has moved my dad to her place a is manipulating my dad I don't know where she lives and she is taking him to other doctors and i strongly think that in court they are going to say that he was unable to under stand what was going on and now i have been cut out of the will they want the home and they have been ploting this for a yr and a half and keeping me in the dark of there plans to take the home from me can i be charged .oh and i pay my dad 2/3 s of his mortgage , he is mad that he is now in a 30 yr mortgage in stead of 8 yrs left to pay . his old payment was 380 a month at 4.75 interest and now he pays 102.00 and i pay 204.00 to make total of 306.00 at 4.25 interest.can i be charged and loose my home to him
1 Answer from Attorneys
It is not possible to tell you much of anything, except that you are in a difficult situation. A lot depends on the mental state of your father when you received the gift.
Since there is an attorney involved on the other side, I strongly suggest that you at least meet with an attorney, discuss the facts of your case, and plan your defense. It may simply take a strongly-worded letter to the lawyer on the other side, complete with all the relevant facts (like you pay a large part of your father's mortgage) to bring this situation to a close.
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