Posted: Thu Nov 17, 2005 11:44 pm Post subject: forclosing on a mortgage I am holding
I sold a home in florida with me holding a agreement for deed for $165,000.00 the buyers have not made a payment since may 05 and I have been to court 4 times and have not been able to get them out of the home, now it has fallen into forclosure from my mortgage, which I have on the home. The peoples defence is that they would have never bought the home if they knew that I had a mortgage on it. and my lawyer has made a mess of the whole thing and now he quit the case what can I do to get my home back and sell it before my bank forcloses on me
Posted: Thu Nov 17, 2005 11:59 pm Post subject: RE:
Hi,
I can understand your problem. And since your lawyer has quit, you should immediately look to hire another lawyer.
Did you ask the Bank before selling the property? If yes then try to co-ordinate with your bank and explain them the problem. I am sure they will come out with a solution.
Thanks,
Jerry
Gabriel Guest
Posted: Fri Nov 18, 2005 12:00 am Post subject: agreement for deed
I asked a question about the agreement for deed I am holding on a florida property that I own. The people that I sold it too have not made a payment for 9 months now. And I am having a problem getting them out, Also they did not make there agreed amount of down payment they did put $10,000.00 down but the signed contract also called for one years taxes to be payed with the down payment they did not make that payment so I did not record the agreement for deed. I also sold the home as is and the code enforcement board wanted some things fixed on the house that were just smoke alarms and some sideing repair nothing major, So I reduced the selling price of the home $10,000.00 and made and hade both me and the buyer sign it. But at the code board meeting they made me make the repairs because the buyer lied under oath said that he did not know about the needed repairs but when I showed them the contract they still made me repair the home saying that it was still in my name, I did the work thinking that the people would be evected soon but that was three months ago and they are still in the home and not paying a dime for it. WHAT CAN I DO PLEASE TELL ME I AM GOING NUTS,AND MY LAWYER IS A DUD AND WORTHLESS SIGNED GABRIEL S. [/b]
Posted: Fri Nov 18, 2005 12:19 am Post subject: RE
Hi,
Take a chill pill Gabriel. Nothing to be panic about the situation.
The 1st mistake which you did is, you sold your house on which you had a mortgage. If you have a assumable mortgage then selling of such property is possible.
Now your present situation says the you dont have the copy also.
Let me go deep into my knowledge, the last option which i can think is search for another lawyer and please for God's sake tell him all your past and present scenarios about the property.
Give me 15 min of time, I am coming back with some more options to you.
Posted: Fri Nov 18, 2005 12:42 am Post subject: RE
Hi,
See, the situation is the ball is on your buyers court i.e. they know that you had a mortgage on your home and still you sold the property to them which is illegal.
They can easily take away your home but the only way that you can get back your sale price from them is try to sit with them and convince them about the whole fact.
Chances of getting your home back is very less so try to solve it with the buyer only. He is the one who can save you now. Try to settle on some lesser amount so that atleast you can payoff your mortgage and prevent the foreclosure.
See you can try it out with other lawyers, so that they can tell you a way to get some more time from the banks. This will allow you to have some more time to convince the buyers.
Your current situation demands you to forget about claiming your home again and settle it with the amount you can pull out from the buyers and make amends that you will avoid making such mistakes which is putting only you into some trouble.
Adonis
josef Guest
Posted: Sun Apr 13, 2008 4:36 pm Post subject: I AM 2 MONTH LATE IN PAIMENTS.
PROPERTY VALUE IS 400k. I OWE 654k TO 2 BANKS. WHAT SHOULD I DO.
Talk to the lender ASAP and inform him your problem. See if he can help you out. If you sell off the property and try to pay him off then you will still owe 254K to the lender. So can you afford that?
You can also request him for DIL. If he accepts it then you will need not to pay the deficiency.
Feel free to ask if you have any further questions
Posted: Sat Jul 26, 2008 8:32 pm Post subject: Contact your lender
The best thing you can do is contact your mortgage company and work out an arrangement.
ANN Guest
Posted: Tue Apr 14, 2009 8:38 am Post subject: LACK OF REAL KNOWLEDGE
YOU PEOPLE NEED TO BE CONSULTING WITH ATTORNEYS, NOT JUST SOMEONE ON THE WEB WHO THINKS THEY KNOW SOMETHING & CANNOT EVEN WRITE A PROPER SENTENCE IN ENGLISH!!!
This is a forum where people try and help each other with the knowledge and experience they have gained so far in their life. Mortgage is a vast subject and you cannot expect a person to know everything about it. Moreover, people in this forum do not claim to provide any legal solution. They simply share what they know or what they themselves have experienced at some point in time in their lives. Besides, our community does have attorneys like Joshua Heard who do provide people with legal advice.
Quote:
SOMEONE ON THE WEB WHO THINKS THEY KNOW SOMETHING & CANNOT EVEN WRITE A PROPER SENTENCE IN ENGLISH!!!
Which post are you referring to? Can you show me an eg. where 'improper English' has been used?
Yes Ann, I'd support Jerry here. Indeed no one participating in the forum (except attorneys) claims to be giving legal advice. They're all into helping people with their real life experiences on mortgage/finance or property related issues.
Being a moderator who's been associated with this community for such a long time, I can say, our forums is like an open platform where we discuss on various financial issues; however, not all individuals have the same opinion on a certain issue. Perhaps this is why, wherever possible, we do advise people to consult attorney for further clarification.
By the way, you've spoken of some wrong English being used. Are you talking about the OP here or is it the community you're speaking about? Can you give us an example? _________________ Know how to compare lenders with mortgage booklet
jerry
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