---

Can a seller sell a house and still make payments to the bank who owns the original note.

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
helicopterlift Joined: 03 Jan 2011 Posts: 1 1.36 Dollars($)	Posted: Mon Jan 03, 2011 8:58 pm    Post subject: Can a seller sell a house and still make payments to the ban Like 0 Dislike 0 Buyer bought a house in Oregon and a Land Sale contract for $165,000.00 They put $20,000.00 down and made payments. The Seller kept making the payments to their finanace company for the balanced they owed which was $54,000.00. Is this legal in Oregon and How does this work if it is?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Jan 03, 2011 11:17 pm    Post subject: Like 0 Dislike 0 Hi helicopterlift! Welcome to forums! It will depend upon the agreement that the buyer and the seller had between themselves. If the lender receives his payment on time, he won't come after the property. Feel free to ask if you've further queries. Sussane
mesesuresh Joined: 04 Jan 2011 Posts: 7 2.08 Dollars($)	Posted: Tue Jan 04, 2011 3:25 am    Post subject: Like 0 Dislike 0 Hi helicopterlift, Welcome to forum... Basically I will consider this as a agreement between two parties, who are having mutual understanding and if any of the party fails to obey the agreement I won't think that court intervention is possible... so I will consider it as illegal... Samese
crichter Joined: 28 Dec 2010 Posts: 34 8.56 Dollars($)	Posted: Wed Jan 05, 2011 9:47 am    Post subject: Like 0 Dislike 0 Buyer is buying a home that Seller doesn't have the ability to convey and without warranty of title. Seller is violating his note/mortgage with the Mortgage Holder with the land contract. I wouldn't put down $20k for something that the other party doesn't have the legal right to sell me. _________________ ------------------ Chris Richter Senior Mortgage Planner Luett Mortgage Group, a production unit of Wintrust Mortgage 773-931-2424 - direct crichter (at) luettmortgagegroup.com http://www.luettmortgagegroup.com ------------------

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0