Walking away from a Canadian mortgage
August 6, 2014 10:36 AM Subscribe
I want to walk away from my home and mortgage because I purchased a tainted property. The fellow next door is a (locally) notorious ex-convict and sex offender.
posted by anonymous to Law & Government (12 answers total) 5 users marked this as a favorite
I realize this is something I should go to a lawyer about but I just need a sense of things here first. This is in Canada.
I can’t sell the home to anyone locally, and I can’t ethically sell this 4 bedroom home with a large yard to another unsuspecting family from out of town, as was done to me. I can’t justify putting any more money into it, which really needs to be done before I could sell it.
Is there a way I can walk away without hurting my credit?
Can I hire a lawyer to negotiate with the bank on my behalf anonymously? I know there are lawyers who do this sort of negotiating for tax cheats. I’d happily pay a one-time penalty to keep my credit.
Can you think of another option?
ICYW, I have tried to find a lawyer who will challenge the seller of the home who was VERY underhanded in what he did to my family and I, but no lawyer will touch it. Three years have elapsed since the purchase of my home. We tried to stick it out and listened to the people who said “Oh it won’t be so bad.” It was that bad. He is a bully and intimidating. Death threats have been made. Peace bonds have been issued. I have small children. I want out now.
He owns his home free and clear. He's about to do another stint in jail in the next year or so for more firearm and sexual offenses.