Legal Question in Civil Rights Law in Georgia
my son andhis girlfriend bought a house together about 3-4 months ago. his name is on the loan and making the house payment but she put $24,000 down for a down payment...if he walks away and lets it go back to the bank will he be responsible for paying her back the money she put down on the house or will she just lose the $24,000?
1 Answer from Attorneys
This is not a civil rights question - the category you chose. It is a real estate question. You also don't tell us the basic facts. Certainly they had an agreement going into this transaction, as it is a big mistake to enter into such a big transaction with a person other than a spouse without an agreement. It also appears to be a horrible financial mistake to begin with if he can't make the payments after 4 months and his dad is asking questions like this. If he now wants to hang his girlfriend (for now) out to dry, he'll suffer for years to come with credit and his ex-girlfriend, although she made the same mistake, may very well sue him. In addition, you don't mention the debt he will owe to the bank after the sell the house at foreclosure price and come after him for every penny of the loan balance.
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