Should I ask my brother to pay me back, give me his (my) house?

Question

This is the situation, about 5 years ago I moved into a house I could not afford, but qualified for somehow? I mortgaged the house (655K) with a 3/1 ARM @ 4.625% w/minimum payment option. I lived in the house for a little under 3 years, during the 3 years I took advantage of the real estate market got into property and land development. Once the 3 years was up about 2 years ago I moved into another house and let my brother and his wife move into the first house that I could not afford. They did not pay me anything for the house because they where going through a difficult time. I was still paying the mortgage on the house and payed it off about 6 months later. I payed 700k as I had deferred some of the intrest on the loan, but the hosue was appraised about roughly 1.1 Mil. So I agreed to let my brother take out a HELOC on the house using my credit and also the equity in my home. Off the HELOC he started a business and now is making considerably more, should I ask him to pay me anything

Answer 1

I would ask if you need the money and he can afford it.  If you don't need the money, and he can't afford it, I wouldn't ask

Answer 2

As a hobbist in this area,I would suggest you take a look here,there are helpful tips there.http://home-mortgage.online-tips4u.info/...

Answer 3

maybe, do you need the money? would it help you?

you helped him in a hard time, and he never payed you back.

i know its hard to ask family and friends for money back, but if you need it, you should ask.

Answer 4

It sounds like you helped him so he could get ahead and be successful.    It worked.    You can be proud that you helped him, but you should not expect compensation for it after the fact.