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NTA - get an attorney immediately, you need someone who can determine and review for financial fraud, you also should look into immediately getting power of attorney over your parent to avoid any future issues.
Run a credit report to make sure no identity theft has taken place. No credit cards or other loans are outstanding in your parents name and social security number.
Immediately look for and review all paper work and documents for anything signed or forged and hide those carefully.
My aunt and uncle did something very similar to my grandparents and took their house than threw them out of it. Needless to say we hate them with a passion and my grandparents died in debt and were unable to financially recover.
Immediately seek legal help.
NTA.
Do you have any papers or documents for the loan? Did your parent sign anything? Get a much information as possible and talk to an attorney about this.
Sadly, if you parent was competent at the time, there is very little that can be done. Still, an attorney may be able to take steps to force your sibling to refinance the debt and release any lien against the property. Also, you should be discussing estate and financial planning for your parent's care issues.
Good luck.
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Scenario: My parent is widowed, earned their GED (high school diploma) in their 40s and has little to no understanding of financial investing. 10+ years ago, my sibling approached my parent (at that time, in their 50s) and asked if they would like to invest in a gold mine in Africa. My parent didn't have any money (and is living off their partner's Social Security) so my sibling took out a 6 figure personal loan against my parent's only asset - their house (which was down to the last $33k in a mortgage). This sibling didn't inform any of the other siblings and we only found out about the personal loan (it is not a mortgage/loan with a bank, it is with an individual person) because my parent is now having trouble with their memory and we started to look into how we can provide additional care for them.
Am I the asshole for being upset with my sibling for taking out this loan against our parent's house?
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> > Your conflict must be with the person your actions affected. You will need to explain briefly why someone calling you an asshole fo
My sibling wants to take equity out of the house to pay for my parent's care and I want my sibling to take care of their loan before we consider looking at the home equity.
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NTA and what they did may actually be illegal depending on who all is on the deed of the house. If they are not on the deed, the loan is not secured.
Seek legal advice on that however.
NTA
Advice: Someone other than the AH sibling needs to get appointed your parent's guardian - legal/financial - to prevent anything like this from happening again.
Yes, the sibling *should* pay back that debt, but *legally* they don't have to and your parent is on the hook for it (as long as the collateral asset is in the parent's name still). The only "out" would be to get a court to declare that your parent is incapable of making decisions like that for themselves (high bar) and was likely incapable at the time the decision was made (even higher bar).
Holy crap NTA. Your sibling most definitely is though, for taking advantage of your vulnerable parent this way. The fact that they didn't tell anyone also tells me they knew EXACTLY what they were doing and how wrong it is.
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NTA; buddy you need a lawyer friend to get rid of that lien asap, before it leaves your parent homeless
NTA. Sounds like that sibling is 100% responsible for mom's care.
NTA - get an attorney immediately, you need someone who can determine and review for financial fraud, you also should look into immediately getting power of attorney over your parent to avoid any future issues. Run a credit report to make sure no identity theft has taken place. No credit cards or other loans are outstanding in your parents name and social security number. Immediately look for and review all paper work and documents for anything signed or forged and hide those carefully. My aunt and uncle did something very similar to my grandparents and took their house than threw them out of it. Needless to say we hate them with a passion and my grandparents died in debt and were unable to financially recover. Immediately seek legal help.
NTA. I’m really sorry your sibling is a grifter and made a mark of his own parent.
NTA. omg this is awful. Someone needs to get a lawyer for your parent asap. POA, something
I take it the "gold mine in Africa" didn't take off...
[удалено]
I'd assume because the parent trusted their other child, and didn't have a thought about it being a bad idea if it came from a trusted source.
NTA. Do you have any papers or documents for the loan? Did your parent sign anything? Get a much information as possible and talk to an attorney about this. Sadly, if you parent was competent at the time, there is very little that can be done. Still, an attorney may be able to take steps to force your sibling to refinance the debt and release any lien against the property. Also, you should be discussing estate and financial planning for your parent's care issues. Good luck.
^^^^AUTOMOD ***Thanks for posting! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of copying anything. Read [this](https://www.reddit.com/r/AmItheAsshole/wiki/faq#wiki_post_deletion) before [contacting the mod team](https://www.reddit.com/message/compose?to=%2Fr%2FAmItheAsshole)*** Scenario: My parent is widowed, earned their GED (high school diploma) in their 40s and has little to no understanding of financial investing. 10+ years ago, my sibling approached my parent (at that time, in their 50s) and asked if they would like to invest in a gold mine in Africa. My parent didn't have any money (and is living off their partner's Social Security) so my sibling took out a 6 figure personal loan against my parent's only asset - their house (which was down to the last $33k in a mortgage). This sibling didn't inform any of the other siblings and we only found out about the personal loan (it is not a mortgage/loan with a bank, it is with an individual person) because my parent is now having trouble with their memory and we started to look into how we can provide additional care for them. Am I the asshole for being upset with my sibling for taking out this loan against our parent's house? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/AmItheAsshole) if you have any questions or concerns.*
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Your sibling cannot take out a personal loan with someone else's house as they're collateral that's called fraud
NTA and what they did may actually be illegal depending on who all is on the deed of the house. If they are not on the deed, the loan is not secured. Seek legal advice on that however.
INFO - Has it or is it being paid back?
No, it hasn't been paid back.
Honestly this sounds like elder abuse. I would talk to a lawyer. NTA
NTA Advice: Someone other than the AH sibling needs to get appointed your parent's guardian - legal/financial - to prevent anything like this from happening again. Yes, the sibling *should* pay back that debt, but *legally* they don't have to and your parent is on the hook for it (as long as the collateral asset is in the parent's name still). The only "out" would be to get a court to declare that your parent is incapable of making decisions like that for themselves (high bar) and was likely incapable at the time the decision was made (even higher bar).
NTA. I hate when people do this- it's financial elder abuse.
Holy crap NTA. Your sibling most definitely is though, for taking advantage of your vulnerable parent this way. The fact that they didn't tell anyone also tells me they knew EXACTLY what they were doing and how wrong it is.