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Location: UK
Joined: Apr 2005
Posts: 13,122
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Im so sorry this is happening t your family..
I`m guessing your dad put his house up to guarantee the load on the business, and as such the bank has called in the loan, which sadly means the house will have to be sold to pay it off.
Many many banks are doing this at this given time, calling in loans, they are ruthless in their pursuit of reimbursing their monies.
The sad fact is Danni, is if your dad signed the paperwork, and he cant prove he was mislead, (which I doubt he will) then he has not comeback
I think the only thing he can do is seek advice from a solicitor that specialises in this...and act on the outcome.
But he if he goes to court with a hopeless case, he is going to have hefty court costs.
He may be able to do a deal, but if he has no income coming in to pay of the loans, the bank wont be sympathetic,maybe they can use your brothers situation to gain them some ground.
So sorry........