Legal Question in Real Estate Law in Illinois

I previously owned the home I still currently reside in. When I was quite young my parents encouraged me to buy a home and they were originally on that mortgage with me. They then chose to pay off the bank mortgage with their own funds and became my "Mortgage Company" so to speak. They made a note & mortgage which I signed. Then years down the line I lost my job and could no longer afford to pay this mortgage to my parents for some time They then made me sign a quit claim deed signing the property over to them as security I guess, I was so stressed out I didn't know what that meant. Now they want to sell the home I'm living in even though I have been paying a monthly rent/mortgage to them. I just really need to know if since I signed that quit claim deed, do they have the right to kick me out? Is there anything at all I can do legally to try to obtain or stay in my home? Thank you in advance

Asked on 4/30/20, 1:14 pm

1 Answer from Attorneys

Henry Repay Law Offices of Henry Repay

A better understanding of the discussions and payment amounts would be helpful, but it sounds like in your parents’ view you surrendered ownership in lieu of foreclosure and became a renter. Are you in a position to buy the house now, saving them the cost of an agent?

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Answered on 5/01/20, 3:51 am

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