Forecloser Help!!!?

Question

Ok, here is the story my father owns two homes and two new automobiles which he makes payements on time. Now one day a so called friend of the familly came by the house one day and asked my father if he could sign for a house in his name and she would make the payments because she can't buy a house because she owes the IRS alot of money. She offered my father $4000 to do it, and my father was like ok i could use $4000 and she is a really good friend of the familly for years. So she ended up s******g my dad over not paying him the $4000 she promissed. She only made like three payments to the home in like almost eight months now the house is for forecloser. Well since he has two homes he can't afford another. Is their anything he can do other then keeping the house, and yes people he made a stupid mistake so keep your stupid answers and insulting remarks to yourself. I would take the house since its a duplex and i could rent one part out but iam only a junior in college.

Answer 1

By "sign for a house" I presume you mean that HE bought the house.  Sell it.

Answer 2

this is rather complex.... if you want email me and we can exchange numbers and talk about all the different avenues you can take...

[e-mail]

I am in the mortgage business and own rental properties myself. No judgment... No stupid remarks...  just great insight into the world you are about to step into....

Answer 3

I realize that your father was trying to be a good man but I have a question:  Is your father on the deed to the house or only on the mortgage?  If he is on the deed then he is an owner and he can sell or rent the property as he chooses.  However if he is only on the mortgage and not the deed then he is not an owner  but he is still responsible for the mortgage and he has no choice.  He will either have to pay up, sue the woman, or face his credit being ruined by the foreclosure.