how much trouble is my dad in and should I try to buy it as a SS from the bank

what happen when you legally assume a mortgage then crookedly refinance/cash-out in to your name cash out 132,000 plus some change then after maybe putting and I mean maybe 5,000 in it, discover the market has changed and you want to deed the place back to the bank for debit forgiveness what do they call that what will the bank do once it sends a real estate agent and/or appraiser to that house and the agent says the house is worth 145000 less than the current the 424,000 that needs to be paid off and the bank has no idea that the person didn’t put money in the place to even make it worth 424,000 what would the bank do wouldn’t some greedy person that did this be in big I mean big trouble (built in 1972 with that same look) it’s all out dated it needs everything “total renovation” but fix-up to the high end of today standards it would be worth 550,000+

The reason I ask is someone wants to short sale their house to me and they said they would pay the outstanding difference of the sell I can do it that way".But now" he wants to quitclaim deed to me and give him the money and he take a second but he won’t have clear title for my hard money loan would he and if he doesn’t pay on his loan of 424,000 I lose what he’s willing to short sell it to me for right

Can I get a period in there somewhere?

Only if I get a real answer, my short sell package for the bank is complete. I just need alot of feed back because I don’t trust my dad and if you understand what he did you will see why I need to some how show that if he does trun the house over to the bank they’ll come after him for that refi to pull132,000 out because I know the bank can’t sell that house without putting at least 50000 in to make a buyer look at it twice I know Because I’m a Maryland Loan Officer and Real Estate Agent

Your run-on sentences are killing me. The reason you are not getting a response is because it is nearly impossible to figure out what you are saying…

For example…

“.But now” he wants to quitclaim deed to me and give him the money and he take a second but he won’t have clear title for my hard money loan would he and if he doesn’t pay on his loan of 424,000 I lose what he’s willing to short sell it to me for right

What the heck does that mean? At first I was only joking about needing a period, but after re-reading your posting it is completely unintelligible. From your second posting it sounds like you are trying to scare your dad into short selling a house to you instead of letting the bank foreclose and you want someone on this board to advise you on how to do it. Is that correct?

I concur with Christopher, your post gives me a headache just looking at it.

Could you please explain, in a little more detail what it is that you are trying to accomplish here?

Your Dad assumed a home and illegally refinanced? How was it illegal?
Why are you wanting to complete this transaction? Just to help Dad get out of trouble? Are you thinking this is a good investment for you if the value has dropped?

Help us help you.

As a licensed professional, never involve yourself in anything shady. You risk your license and your livelihood.

You really need to explain this in English so we can offer some advice.

Loan officer and real estate agent, both require extensive communications skills…how do you survive?

My eyes started to hurt. :cussing

In lots of foreign languages, if you don’t clarify your sentences with proper punctuation, the whole meaning gets distorted into something entirely different.

Actually, that recently happened in the English language, too!

Keith

See you guys do not speak Ghetto Phonics…