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can we be foreclosed on twice on the same home?

In 2000 we purchased a mobile home in a park. In 2002 we voluntarily surrendered the trailor. The home was purchased and financed through Oakwood Homes, who shortly after we surrendered went bankrupt. They then sold their assests at an auction and our trailor was apparently bought for $6000. We never received anything from this new mortgage company. Now on our credit we have a voluntary repo from Oakwood with a balance of 24,000 which said it was opened 09/00 and closed in 2002 and we have a voluntary surrender from Vanderbilt (whom bought out oakwood) with a balance of 23,000 which said it was opened 09/00 and closed in 2006. So it looks like we have nearly 50,000 in unsettled debt. Can they do this? It looks as though vanderbilt bought it for 6,000 but never sold it. Original purchase price was 29K. And besides all that our lender we are working with currently to try and buy a home says that it would have to be 3 years before they would even consider loaning to us and because vanderbilt didn't claim against us until 2006 we have to wait till the end of this year, even though we surrendered it 2002.

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

clearly, this is one transaction being reported twice.

the new mortgage company would have had no reason to contact you, penguin7. your home was already surrendered, so they wouldn't have had anything to say to you.

what's needed here is that the credit information must be corrected to reflect that there was simply one loan and that the vanderbilt deal was simply a new lender on the old loan. if you can correct this, the lender ought to be able to work with you (but that is simply opinion and lenders can really do whatever they want to do).

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:07 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

So the vanderbilt company can buy the loan not just the trailer? How can we go about proving that we vacated the premises in 2002, rather than 2006 because no lender is willing to help us until it has been at least 3 years. They said that if we can prove that we surrendered to property to Oakwood in 2002, they would be willing to help more.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:07 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

You surrendered the property to your lender and you should have documents relating to that. Those documents would prove that you left the property in 2002.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:07 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

that's my take on it too, as guest said. wouldn't you have some documentation that reflects your having left in 2002?

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:07 | Post subject:

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