Legal Question in Credit and Debt Law in New York
Hi,
I am writing to request some advice on behalf of my Aunt & Uncle. They are both retired and in their seventies and up until the last couple of years until my Uncle stood as a guarantor on behalf of their son and daughter in law�s mortgage, they have had an impeccable credit record.
There are two different issues that they need advice for so have listed as below.
My Uncle stood as guarantors on their son & daughter in law�s mortgage and they have not made a mortgage payment for nearly 1 year. As a result the house is about to go into foreclosure although their son has now put it up for sale and is hoping to sell before it is reclaimed. How will this affect my Uncle as a guarantor � can the Mortgage financers claim my Uncle�s own home or secure a charge on it in order to recoup their losses?
In addition to this, they are now being harassed daily by two separate Banks for credit card debts � one amounting to $19,000 and one for $12,000. Both debts (which incidentally have reached charge of status) are not owned by either my Uncle or Aunt but were taken out without their knowledge by their son�s wife using my Uncle�s information. We have been able to confirm this as the debt is also registered in their daughter in law�s name as well as my Uncle�s name although she is denying all knowledge. The situation is now made even worse as they have recently left the country to start a new life and have left my Uncle and Aunt who are not in the best of health to deal with it all.
So the question is � what can they do to relieve this huge dilemma and where do they stand as far as their own home being at risk? They have not got a clue what to do next and as you can imagine are very worried and frightened of the implications on them because of their son and daughter in law�s actions.
I really would appreciate any advice that you are able to give me.
Many thanks in advance.
Leila, New York
1 Answer from Attorneys
They can file suit for identify theft against their daughter-in-law but at the very least, they should notify the bank that this is not their debt. They must, however, be prepared to file a complaint with the District Attorney for identity theft and bank credit card fraud against their daughter-in-law. There is not must they can do as to the mortgage obligation until their is a final accounting.
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