Mortgage Forum

Joel Fraser

I am not very knowledgable about mortgages or much of the real estate business. However, I thoughtI would post here for some helpful advice.I purchased a home as an investor along with another persn. The person was a real estate broker. The deal wasthat I got a little bit up front of the equity, and that they their equity would be whatever happened on thebackend whether it be a profit or a loss. They agreed by contract to make any and all monthlymortgage payments.I was approached by the broker to do the deal, and the broker made all arrangements including contacting lenders, closing, and choosing a property, etc. They basically did everything.I became concerned when I started getting calls from lenders wanting money. This seemed odd, as the brokerwas to be making all of those payments. I had to begin to make the payments directly, and was able to getreimbursed by the broker. All was fine until after about a year in which the broker stopped reimbursing me. Abouta lot of time has passed from this point. I have kept making all of the payments. I have even had to borrow money to do so. My intentions are all ingood faith.Because there is a contract, I want to sue the broker for the money that they owe me. I have takenproper steps in this regard.I ordered copies of the loan docs and noticed a few odd things. One is that none of the signatures are mine!They are way off. They are even notarized, so the notary has comitted fraud. I can prove that it wasn't meand that it couldn't have been me that signed them! Also, the home has an owner occupied provision, which is ofgreat concern, as I was told that the property was investment. Naturally, since I didn't see or sign theseloan docs, I never knew about that.Also, the broker let a family member live in the home rent free for a very long time without getting rent money to help to reimburse me for the mortgage payments. The terms of the loan were NENA. No income, no asset stating or verification. It was obviously a very bad business move for the bank.Would a forensic loan exam help me? What parties can I go after? What can I expect to happen with the loanand with my credit? What monies or damages can I recover? This seems like a complex matter, so I wanted to get some opinions. This happened in Nevada