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Brother holding parents hostage!

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purifiedsoul

Junior Member
MissouriWhat is the name of your state?

A year ago my parents helped my brother refinance his house in order to pay money to his wife who divorced him. They had to put their names on the mortgage as his credit was not good at the time, anyway, it has now been a year and my brother has not made any of his payments leaving it all on my parents shoulders. My parents are struggling to keep up with two households and want my brother to sell the house and he refuses to do so and is now threatening even to burn the house to the ground. Please advise if my parents can do anything at all to remove this financial hardship and protect their credit?
 


S

seniorjudge

Guest
"Please advise if my parents can do anything at all to remove this financial hardship and protect their credit?"

They can protect their credit by paying the loan as they agreed to do.

If that is not what they want to do, they can let the lender foreclose on the land and then buy the house at the foreclosure sale on the courthouse steps. Then (after they kick bad brother out), they can sell the house.

BUT FIRST, have mom and dad go have a heart-to-heart with the lender to discuss their options.
 

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