Legal Question in Credit and Debt Law in Florida

recently my grandmother who is close to 80 yrs. old entered into an agreement with my father and a 3rd party, the cotract stated that my father bought a truck from the 3rd party for $1000.00 and as collateral my father used my grandmothers house. The contract was signed by all three party and notorized. But in the contract it was stated that no one other than my father was allowed to make payments, and my father has since then not made a payment, and they are now in the process of trying to take the home. My question is, is this legal and are there possibly any loopholes and this loan is "with" a bank, the contract is not!


Asked on 4/02/10, 4:36 pm

1 Answer from Attorneys
Leon Ferraez Ferraez, LLC

Based on what you have stated, I'm sure there are enough 'loop-holes' in the 'contract'. But, only an attorney will be able to help you at this point.

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Answered on 4/07/10, 6:18 pm


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