Legal Question in Credit and Debt Law in Virginia

Hello,

I had two cousins named suresh and ramesh. My cousin named Ramesh purchased a townname on my ssn in 2004 and I have signed when the purchase was done and later also when refinancing was done for the mortgage.The townhome was a joint property of my cousin Ramesh and me and he had promised me verbally that he would make payments on time when he did until march 2009.

To explain you in detail, this is a favor that I was trying to do for both of my cousins ramesh and suresh since they wanted to purchase a townhome for investment purpose and I had nothing to do with the property other than signing the documents and having it on my name. They couldn't have it on their names completely since they already owned homes. I have completed my master's in US on student visa in 2003 may and started working in June 2004. My cousin purchased this home after june 2004.

I had travelled to India in feb 2009. In feb before leaving to India, my cousin had mentioned that he wanted to sell the property since he doesn't have a job at that point of time and cannot afford to make payments and had mentioned that he would talk to a loan official regarding the mortgage and made me sign power of attorney that said that I am willing to give the power of attorney to Suresh to sell off my property. He also took a copy of two recent bank statements and a copy of my w2 before I was leaving to India.

I was in good terms with my cousin until 2009 Feb and travelled to India and there were family disputes where I was not involved at all. My cousin had assumed that I was the one for all the family disputes and inorder to take revenge on me and my family back home, he stopped making loan payments from april 2009 even though he got a job and started working. My stay in India was from feb 2009 to Sep 2009.

My cousin sent me an e-mail in Aug explaining that he wanted to sell the property and he purchased the property for 215K and the homes are selling now for 50k to 60k. He could not sell the property in Feb. So, he need my recent bank statements and w2 again to consider selling the property. He also mentioned that if I do not give him the documents he needed, he will not be able to sell the property and my credit history would be ruined. My family and his family had a big time conflict. Even then, I sent him the documents he needed again.

I came to US in the end of Sep 2009. I found out in Jan 2010 that I had "Derogatory" on my credit report for the town home that Ramesh had purchased.I also see on my credit report that a late payment from May 2009 thru Sep 2009 had been posted. I called the mortgage company and was asking them what had happened.The mortgage company had told me a shoking news. He told me that first of all the town home is only on my name or ssn and there are no others on this

property. Also, he said that they had sent tons of letters to the townhome address and no one responded. So, they had to seal the property and sell it away with the help of a broker company.

Another surprise is that I see online that the property had been sold that by a realtor company owned by Suresh. Mr.Suresh is a realtor too apart from working in IT. So, I am not quite so sure what has happened because I do not have much knowledge on Home Mortgage/purchase/selling.

On the sellers website, it displays Listing Agent: "Suresh" (See Actives & UC / Solds: Lister / Buyer / Both) and the listing broker is Michael Conway Realty LLC. Below is the link:-

http://franklymls.com/PW6969874

My cousin used to have Michael Conway Realty LLC in his signature section when he was sending e-mails to me. So, I am really not sure if he works for this company or if he owns it.

How can I fight to remove the derogatory marked on my credit report for this town home mortgage by my cousins suresh and ramesh? The only proof I have is I never made any payments for the townhome from my bank account for all these years and the e-mail written by Suresh would be a 2nd proof in Aug 2009 that he wanted to sell the home which he never did.

Thanks for all of your help

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