midnighter:


Wow! So this is even covered in the Bible? I never knew

Thats truly amazing

The bible covers ALL of life issues

Try and get a lawyer so you can terminate the agreement...

Does the house had C of O?
Where the docs perfected n legal mortgage done?
If yes,your chances are slim otherwise you could still smile if it's equitable mortgage

wwwkaycom:
Honestly I had no fear as such until I heard from uncle yesterday. Uncle is buoyant, he is a businessman/contractor and can afford to part with 2 million, this he told me himself yesterday since he wouldn't want to use force to get his money from him but can I afford to part with a house I laboured hard to build for close to 8 years as a government worker? No!

I feel very very bad for you because there is a 90% chance that dude will eff you up, a leopard never changes colour, he has done it b4 he would do it again, when it happens the trust between you and your wife would be broken and she would always remind you that she told you so but you ignored her advice and discarded it as trash...I really pray yours turns out different.

wwwkaycom:
Honestly I had no fear as such until I heard from uncle yesterday. Uncle is buoyant, he is a businessman/contractor and can afford to part with 2 million, this he told me himself yesterday since he wouldn't want to use force to get his money from him but can I afford to part with a house I laboured hard to build for close to 8 years as a government worker? No!

Should he fail to start repaying, approach the bank to refinance and pay what you can afford monthly. That way, you don't lose your house but for your money, it is likely a sorry case.

start building a new house bruh cos dat fucking cousing of urs wont pay a DIME！
Youve shor urself on d head..... Trust nobody real nigga re scarce.

if u went broke he would even,be,among d people dat will mock u.

No worry Amotekun don enter 2 secs everywhere burst

vickydevoka:

My family is de best people to do business with. They have never failed me ,maybe because our Father is til alive

You would be surprised...we are not talking of doing business BUT helping with huge capitals running in millions...we only pray to God for foresight.

Oluchia:
Please what is all these negativity, insults and doom sayings The guy might have made a mistake and may probably lose his house but it's not the end of the world. Y'all are probably going to contribute to his high blood pressure and maybe attempted suicide with all these condemnations and negativity more than the house loss itself. People make mistakes for crying out loud!

@poster; I believe you have a very good heart which was probably why you tried helping your cousin this much. It's quite unfortunate that he took advantage of you. I may not have a piece of advice on how to recover your documents and property but just sieve through the comments IGNORING all the negativities and insults. There are some very good advice there; follow through with them not forgetting prayers. If peradventure nothing worked out; please do not lose hope. It is not the end of the world. Where there is life, there is hope.

Babe you won't understand, its better he chops the insult now so his eyes would clear, who knows if the cousin even jazzed him? Nobody in their right senses gives out their ONLY surety to fund another persons dream without doing due investigation, that's not having a good heart its stupidity, moreover he didn't listen to the words of his wife probably as the man of the house he can do whatever he pleases, for his wife and children's sake I pray and hope that his cousin doesn't burn him.

Born2Breed:
You are in deep shit sir.

Get a lawyer right away to look for loopholes in the agreement so you can get your documents back.

I doubt though.

The only loophole is the man that allowed his house to be used as a guarantee for a loan. If I was lender I will immediately contact the bank that issued the loan and arrange a repayment plan. I 'm beginning to worry about the sanity of Nigerian.

The problem with us men is that you think your wife is dull.

The same woman who took out time to consider you amongst her list of chykers, weighed the prons and cons and agreed to your proposal to be your wife.

If she can make the life decision of spending her life with you, why do you doubt her other decision making.

You my friend is in trouble, you have your marriage and 3million to battle as I see it.

Yankee101:


The bible covers ALL of life issues

Amen

Majority say "you enter one chance".

I wonder why they say so.

I will say the "one chance" you entered is full optioned with mortuary chilling AC end even factory tinted, dem tint the windscreen join.

Obviously the loan from bank has been used to throw the parties.

It's worse because his wife who should be reminding him of how the money was borrowed is in "same league" with him, and probably his coach.

My advice:
1) Don't involve Nigerian police in an attempt to make him pay; they will milk you drier.

2) Start to scout for an apartment to rent/move into 'cos the language banks understand is "money". When time reach, you go know say bank get department full of "agbero" and lawyers. You no go see dem dress cooperate again.

Anyway, I hope and pray that your cousin pays back - that which I doubt.

pardon me if my comment sound like mockery, I am not, it's to prepare your mind for what I see coming.

wwwkaycom:
The things I'm reading here terrifies me. I just called his elder brother who knows about the loan and how I assisted him. He said I should calm down, that he will first ask him if he has started paying and then tactically advise him to start paying as from January ending as he promised. He also advised that I shouldn't fight him.

So his wife that was sacked from bank does not have any savings ?

Maybe you are not in business. Agrochemicals is not a business that requires huge capital. The money he borrowed from the bank, using your house documents was not meant for that business.

It's like going to market with N100k when the items on your purchase list is N10k.

Never you part with house documents unless you are outrightly selling your house.

One man with a bankrupt business went to bank and borrowed personal funds from banker friends only to go buy a car, revived his lifestyle and refused paying.

The Nigerian business sector is not really profitable, it was a ploy to deceive you to part with your documents. If his biz is really profitable and his capital is N100k, he should be able to earn N5,000 daily.

Hate to break it to you man but try to repay the money yourself so you don't lose your home and your wife. Your cousin isn't paying you back. Money loaned to family members is essentially a gift. Why? Because they know at the end of the day, there is very little you can do to enforce repayment.

I learnt the hard way after helping family members out with almost N2M in various desperate situations. Regardless of my strategies and pleas, I haven't received a dime back till this day. To relieve my own stress, I try to not even think about it anymore.

What I do know is NEVER EVER AGAIN am I helping any family member out with anything but small change that I can afford to part with. No matter how long you've known them or how "upright" you think they are, money is a whole different ball game. A loan to a family member reveals the debtor's true character.

I rest my case.

Mr man the earlier u start looking for the money the better for u.

dancok:
I doubt the story, if it's true, pray that cousin will not kill u when he eventually not able to pay.

It is true, I have a feeling his cousin told him how profitable the agrochemical business is. He might tell him how he would turn the N3 million loan to N6 million and he would pay the guy who pledged his house as collateral N1 million out of the profit of the venture


His cousin worked on his greed and the man is now the loser.
I am sorry to say most of the people scammed are not cautious and also greedy.

wwwkaycom:
I gave my house documents to my cousin to take a bank loan of 3 million naira but I like to retrieve my documents back because of the way he and his wife have been doing things since October, 2019.

He is involved in sales of agrochemicals. He discussed with me on how profitable the business is but that he didn't really have money to put into it.

The wife lost her job in the bank and had to join him in the business. Being a close cousin and friend of mine, I gave out my house documents to him as collateral and the bank actually came to do some inspection in my house and I signed some documents.

The big issue now is that my cousin have not paid a dime back since August last year when he got the loan and between then and now he has done 3 parties that I'm sure gulped lots of money. The wedding of his younger sister in October, wedding of his brother in law in December and 40th birthday of his wife in January. These were serious lavish parties which I think could be done modestly.

I asked him on Monday about the loan and he said his moratorium will expire in February and there's no cause for alarm. This is different from what he told me before I released my documents, he said he will have gone far in repayment even before the expiration of moratorium. I reminded him about this but he said there is no problem about his ability to pay back since the business is lucrative.

I also discovered that one of our uncles actually borrowed him 2 million naira in 2017 which he hasn't paid back till now, he hasn't paid a dime back, I didn't do due diligence before releasing my documents to him.

Uncle told me yesterday that he would have discouraged me from giving out my documents if I had informed him before the loan was granted. Uncle also told me that he disagreed with him about his clubbing and partying lifestyles as a struggling businessman but that instead of appreciating his concern, he and his wife fought him and boasted his 2 million naira will be paid back before mid 2018 but till today he hasn't paid a dime. Hope I haven't shot myself in the leg with this help which I think I rendered to a friend and family?

The worst part of it is that my wife was not fully in support of my intention to help him then.

Where do I start from good people?

He promised to start paying by January ending, if he fail to do this, is it possible to break that bond and retrieve my documents from the bank? Can I tell him and the bank that I'm no longer interested in guaranteeing the loan? I'm afraid, kindly help.

look for 3 million or 4 million, go and pay and collect your house

Lagbaja425:
Hate to break it to you man but try to repay the money yourself so you don't lose your home and your wife. Your cousin isn't paying you back. Money loaned to family members is essentially a gift. Why? Because they know at the end of the day, there is very little you can do to enforce repayment.

I learnt the hard way after helping family members out with almost N2M in various desperate situations. Regardless of my strategies and pleas, I haven't received a dime back till this day. To relieve my own stress, I try to not even think about it anymore.

What I do know is NEVER EVER AGAIN am I helping any family member out with anything but small change that I can afford to part with. No matter how long you've known them or how "upright" you think they are, money is a whole different ball game. A loan to a family member reveals the debtor's true character.

I rest my case.

you have just hit the nail on the head with a big sledge hammer

The book of Proverbs in the Bible would have helped you to avoid all of these issues. Take heart. You might want to consult a lawyer over this ASAP!

wwwkaycom:
I gave my house documents to my cousin to take a bank loan of 3 million naira but I like to retrieve my documents back because of the way he and his wife have been doing things since October, 2019.

He is involved in sales of agrochemicals. He discussed with me on how profitable the business is but that he didn't really have money to put into it.

The wife lost her job in the bank and had to join him in the business. Being a close cousin and friend of mine, I gave out my house documents to him as collateral and the bank actually came to do some inspection in my house and I signed some documents.

The big issue now is that my cousin have not paid a dime back since August last year when he got the loan and between then and now he has done 3 parties that I'm sure gulped lots of money. The wedding of his younger sister in October, wedding of his brother in law in December and 40th birthday of his wife in January. These were serious lavish parties which I think could be done modestly.

I asked him on Monday about the loan and he said his moratorium will expire in February and there's no cause for alarm. This is different from what he told me before I released my documents, he said he will have gone far in repayment even before the expiration of moratorium. I reminded him about this but he said there is no problem about his ability to pay back since the business is lucrative.

I also discovered that one of our uncles actually borrowed him 2 million naira in 2017 which he hasn't paid back till now, he hasn't paid a dime back, I didn't do due diligence before releasing my documents to him.

Uncle told me yesterday that he would have discouraged me from giving out my documents if I had informed him before the loan was granted. Uncle also told me that he disagreed with him about his clubbing and partying lifestyles as a struggling businessman but that instead of appreciating his concern, he and his wife fought him and boasted his 2 million naira will be paid back before mid 2018 but till today he hasn't paid a dime. Hope I haven't shot myself in the leg with this help which I think I rendered to a friend and family?

The worst part of it is that my wife was not fully in support of my intention to help him then.

Where do I start from good people?

He promised to start paying by January ending, if he fail to do this, is it possible to break that bond and retrieve my documents from the bank? Can I tell him and the bank that I'm no longer interested in guaranteeing the loan? I'm afraid, kindly help.

wwwkaycom:
I gave my house documents to my cousin to take a bank loan of 3 million naira but I like to retrieve my documents back because of the way he and his wife have been doing things since October, 2019.

He is involved in sales of agrochemicals. He discussed with me on how profitable the business is but that he didn't really have money to put into it.

The wife lost her job in the bank and had to join him in the business. Being a close cousin and friend of mine, I gave out my house documents to him as collateral and the bank actually came to do some inspection in my house and I signed some documents.

The big issue now is that my cousin have not paid a dime back since August last year when he got the loan and between then and now he has done 3 parties that I'm sure gulped lots of money. The wedding of his younger sister in October, wedding of his brother in law in December and 40th birthday of his wife in January. These were serious lavish parties which I think could be done modestly.

I asked him on Monday about the loan and he said his moratorium will expire in February and there's no cause for alarm. This is different from what he told me before I released my documents, he said he will have gone far in repayment even before the expiration of moratorium. I reminded him about this but he said there is no problem about his ability to pay back since the business is lucrative.

I also discovered that one of our uncles actually borrowed him 2 million naira in 2017 which he hasn't paid back till now, he hasn't paid a dime back, I didn't do due diligence before releasing my documents to him.

Uncle told me yesterday that he would have discouraged me from giving out my documents if I had informed him before the loan was granted. Uncle also told me that he disagreed with him about his clubbing and partying lifestyles as a struggling businessman but that instead of appreciating his concern, he and his wife fought him and boasted his 2 million naira will be paid back before mid 2018 but till today he hasn't paid a dime. Hope I haven't shot myself in the leg with this help which I think I rendered to a friend and family?

The worst part of it is that my wife was not fully in support of my intention to help him then.

Where do I start from good people?

He promised to start paying by January ending, if he fail to do this, is it possible to break that bond and retrieve my documents from the bank? Can I tell him and the bank that I'm no longer interested in guaranteeing the loan? I'm afraid, kindly help.

As an ex banker,I can only tell u that u have entered the wrong side of business. U should have done ur due diligence on him earlier and as it is, u can't come out from this except u find a way to pay off this liability,otherwise ur house might be confiscated by the Bank in order to recover their money.

Note this:
At the time of recovery,the bank may sell off ur house below the cost price also known as the "forced sale value" this is to avoid taken time to liquidate the property. That is,to sell the property quickly.
This is one thing I hate about Nigerians,they can never keep to their promise.

I'm deeply sorry for what u are passing thru now.

Greenbullet:
loan of 5 million at zero percent interest , MAD OHHHH.

Yeah bro..it's called Islamic banking

Start talking to a GOOD LAWYER bro.

The doc you signed is 100% binding!!...Nothing u can do but to pay up the loan to retrieve the document.

You must be smoking weed to have allowed that happen.

OP
U ARE VERY STEWPID
HOW WILL U TRUST ANYONE TO THAT LEVEL

YOU ARE A BIG FOOL

wwwkaycom:
Honestly I had no fear as such until I heard from uncle yesterday. Uncle is buoyant, he is a businessman/contractor and can afford to part with 2 million, this he told me himself yesterday since he wouldn't want to use force to get his money from him but can I afford to part with a house I laboured hard to build for close to 8 years as a government worker? No!

Look find a way to pay the loan yourself

Then u can fight

I know what it feels like to build a house for almost a decade

Op get ready to go to war with you cousin!!

wwwkaycom:
I gave my house documents to my cousin to take a bank loan of 3 million naira but I like to retrieve my documents back because of the way he and his wife have been doing things since October, 2019.

He is involved in sales of agrochemicals. He discussed with me on how profitable the business is but that he didn't really have money to put into it.

The wife lost her job in the bank and had to join him in the business. Being a close cousin and friend of mine, I gave out my house documents to him as collateral and the bank actually came to do some inspection in my house and I signed some documents.

The big issue now is that my cousin have not paid a dime back since August last year when he got the loan and between then and now he has done 3 parties that I'm sure gulped lots of money. The wedding of his younger sister in October, wedding of his brother in law in December and 40th birthday of his wife in January. These were serious lavish parties which I think could be done modestly.

I asked him on Monday about the loan and he said his moratorium will expire in February and there's no cause for alarm. This is different from what he told me before I released my documents, he said he will have gone far in repayment even before the expiration of moratorium. I reminded him about this but he said there is no problem about his ability to pay back since the business is lucrative.

I also discovered that one of our uncles actually borrowed him 2 million naira in 2017 which he hasn't paid back till now, he hasn't paid a dime back, I didn't do due diligence before releasing my documents to him.

Uncle told me yesterday that he would have discouraged me from giving out my documents if I had informed him before the loan was granted. Uncle also told me that he disagreed with him about his clubbing and partying lifestyles as a struggling businessman but that instead of appreciating his concern, he and his wife fought him and boasted his 2 million naira will be paid back before mid 2018 but till today he hasn't paid a dime. Hope I haven't shot myself in the leg with this help which I think I rendered to a friend and family?

The worst part of it is that my wife was not fully in support of my intention to help him then.

Where do I start from good people?

He promised to start paying by January ending, if he fail to do this, is it possible to break that bond and retrieve my documents from the bank? Can I tell him and the bank that I'm no longer interested in guaranteeing the loan? I'm afraid, kindly help.

Did u consult a lawyer when u were going into this transaction with him and the bank? Is the loan agreement a tripartite one? The documents u signed should be the starting point of knowing what to do.

Falsified another documents sell the property and disappear

Op please we go need update as you take settle the case, this case is very interesting. Some people can be so heartless.