Previous owner has home equity on my house

[emeraldgirl]

Bought a house, by owner (paying the previous owner a monthly note) in 2004. At that time the previous owner had a home equity loan on the house. They reassured me the loan would be paid off within 1yr. To this day it has not been paid.

Being that the previous owner were family friend, we did not ask for anything in writing...I know very naive on our part.

Is there anything I can do to force them to pay it off?

 

[seniorjudge]

You bought a piece of property with a lien on it that you knew about and you did not get title insurance and you did not get a written agreement to get the lien paid off.

You can consult with a real estate attorney but you may be out of luck here.

It wouldn't hurt to threaten them with a lawsuit; they are not good friends like you thought.


http://forum.freeadvice.com/showthread.php?t=353260