one of my contractor found a good rehab property, he fixed the property and billed $50,000 as rehab work which was equal to equity in house. he placed me as buyer with mortgage on me. At that time he promised me that he will re-sale the house after six months. This happened a year back, and till now he never sold it and mortgage and property is still in my name.
he used to give me mortgage payment to pay the mortgage. but problem now is past 3 months he is not making payments and i have to pay it from my pocket. also now market value of house is also decreased. I am really frustrated with him now.
the actual repair work which was done on property was $6000 to 7000. Is it possible to recover the money from contractor which he charged in excess about 44,000.
I feel so bad as to how I believed contractor and his promises. any suggestions, really helpful. thanks.