Friend of mine in Texas is about to do something beyond dumb, advice much needed to me to help provide to him please

The short of it is he signed off on a loan for a house around the dallas area he is trying to get out of. His ex-GF sister is the real estate agent, they will be no help in anyway regarding the below story either.

So he wants to get out of this home loan that he is legally bound to to, and has to sign off on it it 5 days.

He did not read the contract, his short coming in life is things like this, I know…However, verbally and I heard her say this (but its not in writing), he asked her if this was final and she said no. I remember overhearing it but never thought twice about it at the time.

My friend said he consulted with a lawyer regarding getting out of the loan, who said the only way he is going to get out of this is by not having money in his back account to put down on the home loan – no clue if this is true or not. He was told to spend it all on real expenses.

The threat is that he gets sued (I guess by the real estate agency?). He thinks she is bullshitting him in some ways because she wants the commission. I dont know the answer to that though, part of what I want to know.

My initial thought is that he works for a very large firm and while a slight chance, maybe he has some kind of umbrella policy that can cover legal if/when he is sued. Then hope he wins – not probably though.

Knowing that he cant get the real estate agent to help out, literally in now way.

Does he have any other options? If anyone has anymore questions I will answer them the best I can.

More real estate tips at Program Realty Wix site


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