Resolved Question: What are the advantages of having high equity capital, especially in taking up loan?

My parents are in serious trouble right now....heres the deal. They own 2 properties, the person who talked them into buying a second home got them into a bad loan on both properties....they have an adjustable rate and each month they're in negative amoratization. Its too the point where they've tried to sell the rental property to refinance the property where we now live. But the house hasnt sold and the payments are too high....They cant refinance the property where we live because they owe almost what the house is worth.....So now they're thinking that foreclosure is an option....I want to know more about this...how bad is it?? We still have the rental property that has some equity and is more affordable...Any information will help...Thanks

Resolved Question: sold house to girlfriend still owes me money is their anything legally I can do?

I sold my house to my girlfriend. she did'nt have a down payment so the only way she could get the loan was for me to leave 40,000 of my equity in the home, so the mortgage company we used could say that she put 40,000 down on the house but she still owed me 40,000 on a seperate loan. she was making monthly cash payments to me. six months later she conned me into meeting her at the same mortgage office because she needed me to sign something so she could refinance. she needed to get money out to buy a new car. well the piece of paper I signed was to say that she payed me the 40,000 in full. I was very reluctant, but love is a powerful thing. the mortgage lady also told me that signing that did not mean that she did,nt still owe the money. the mortage company were doing alot of shady stuff. anyway we are no longer together and she has stopped giving me money. I feel like such a sucker. is their anything leagally I can do?

Resolved Question: What are the advantages of having high equity capital, especially in taking up loan?

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