Question
Making money back on a condo...?
My friend had a condo, which her ex left her with when they split up, From there her brother moved in to help her pay the mortgage, When he did move in she said he would get whatever money he put into it back when he moved out. So she took his money every month, and turns out, she ended up not paying the mortgage for 6 months.(just wrong) She found an apartment to move into, and left the condo, not paid for. She tells me that shes selling it, or giving it back to the bank, could she have made money on this? and not told anyone, because I believe its her brothers right to get his money back, especially being that she was taking it and not paying the mortgage with it. I'm just wondering if it was possible to have made money on the condo...thanks Her brother said he did not even care if he got his money out of it..even if she threw him 10 bucks, just to acknowledge he was there to help her out...
4 weeks ago - 2 answers
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Chosen by Asker
It sounds like she made money off of not paying the rent. The only other way she might have made money is refinancing the property to its full value and never making a payment on that mortgage. Unfortunately in real estate if you don't have a signed written contract its going to be hard for her brother to really enforce anything.
4 weeks ago
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Other Answers
If she just leaves the condo, she won't be getting any money back or making any money on the condo. What she did or is contemplating is immoral, but not illegal. She had every right to collect rent from the brother, and what she did with it was her business. He can try to sue her in small claims for what she *said* she was going to do (give him back money), but, unless he has something in writing, I doubt he is going to get far.
by My Take on It- 4 weeks ago