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Sublet on a motgaged house? West Virginia

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  • Sublet on a motgaged house? West Virginia

    I have a mortgage on a house that is 16 years into a 30 year note. I was approached by a realtor who offered to buy me out in order to avoid foreclosure. He told me directly that he would take over the loan and give me 5000$ to walk away. I agreed and signed a contract agreeing to these conditions. As it turns out his definition of "take over" is that he will pay the payment out of the tendered rent from his tenant. The mortgage however remains in my name. He now denies having ever agreed to refinance in his name. There have been occasions where his tenant has failed to pay rent and the mortgage has not been paid. I am fully liable for a property i have no control over. He has also only paid me 1800$ of the agreed 5000$. Stating " well i said up to 5000$ ". Is this even legal? I signed this contract in a lawyers office so felt this was legit.

  • #2
    A lot probably depends on exactly how your complete contract is worded which you signed. You might take the contract to a real estate lawyer for review & advice.
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