Legal Question in Real Estate Law in Georgia

Home Equity Loan

My father and I took out a mortgage loan in 1999, which in 2001 we both accessed equity in the home. At that time we were both responsible for our portion of the payment for the equity loan. In 2005, my father refinanced without me and took additional equity out of the home. I am no longer on the home loan. The equity loan was absorbed into a 1st and 2nd mortgage that my dad is the only signer on. I have been paying $300.00 per month since 2003 up until January 2009. From 2001 to 2003 I paid my portion which was $153.00 per month. My parents are now filing a lawsuit against me to pay their entire 2nd mortgage balance because of equity that I took and paid for previous years. My question is, am I still responsible for any balance after my dad refinanced into just his name in 2005?


Asked on 3/19/09, 12:14 pm

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Home Equity Loan

Since your parents are suing you, and the lawsuit MUST be responded to in a timely manner, you should ASAP hire a lawyer. He/she can explain your options.

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Answered on 3/19/09, 8:56 pm


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