Hey everyone,
I’m in a really tough situation and could use some advice.
When I was 20 years old, my mom manipulated me into co-signing a mortgage with her. I didn’t fully understand the responsibility at the time, but I trusted her. A couple years later, while I was still in school, she had me sign the house over to some shady buyers — without refinancing or officially removing our names from the mortgage. I felt pressured and signed, not knowing the consequences.
Now I’m no longer on speaking terms with her, and I just found out the mortgage is still under our names. The people who are in the house now have stopped making payments, and it’s starting to seriously damage my credit. I recently got denied for a car loan, and this is the only major negative mark on my record.
It doesn’t show as a foreclosure yet on Credit Karma, but the missed payments are there. I work full-time now, I’m financially stable, and I’ve worked hard to build a good life for myself — but this is holding me back.
I haven’t reached out to legal aid yet, but I plan to. In the meantime, I wanted to ask:
• Is there any way to remove myself from the mortgage without my mom’s cooperation?
• Would bankruptcy help in a situation like this?
• Would a credit explanation statement make a difference with lenders?
• Is there any way to force a sale or pursue legal action if I wasn’t the one who caused the default?
I’m just trying to move on and take control of my future. Any advice, shared experiences, or encouragement would be really appreciated. Thank you.
Location: Colorado
Comments
Very unlikely that you have a way out.
Uh, I’d start with talking to the bank. That’s who is really getting fucked here, and they have the resources to take action against your mother and the squatters.
You are on the hook for the mortgage.
Can you get a copy of the documents you signed “selling” the house? Or see if you can look up the deed transfer in public records. I would suggest having a lawyer look over that paperwork to see if the sale or the arrangement they made to take over the mortgage payments could be challenged.
Is there any chance it was just a lease you signed, not a sale? Or a rent-to-own? In that case you could look at whether eviction is possible.