Archive for House Foreclosure
My family and I moved into this house in May, it was supposed to be an “assignment of title” for us to buy. This “management” company said we can move in, pay $2000 in monthly payments to get the deed in our name, and we would then take over the mortgage. We’ve been making payments each month (into a bank account) that was supposed to cover the mortgage, homeowners insurance, and $80 each month towards the assignment of title fee. We did get receipts.
Well, we’ve been having problems communicating with them since August and just a couple of days ago got a letter in the mail from a lawyer which informed us the house is going into foreclosure in less then two weeks and with 4 small children we are under extreme stress right now. We’ve been trying unsuccessfully for months to contact the person whose name is still on the house with no luck, but managed to find him by locating a relative. We were able to meet up yesterday.Comparing notes with him, we found out that both us and the owner have been giving this “management” company money but they have never made a single payment to the mortgage company!
Both us and the owner want to file a lawsuit against this company, but in the meantime we have no place to go and no money saved up to pay 1st months rent and deposit to move somewhere else. Could there be a way to avoid foreclosure and get the mortgage in our name? Would it be possible for the owner of the house to file an injunction to stop foreclosure, and if so how can we do that?
Selling Your House Question/foreclosure?
Posted by: | CommentsCurrently my boyfriends house is for sale and has been for nearly a year. He really wants/need to sell it so he was thinking of taking the price down to around $100,000 or a little under. It is currently listed at 137 something I believe. Say someone buys it, where does that money go from the sale, him or the bank or what? This is to avoid foreclosure so he was thinking that if he sells it way under what it’s worth if the money from the sale could be used to still pay the monthly payments off the loan all the while trying to not get foreclosed on. Sorry if that was confusing but I really couldnt find the right wording. Thanks to anyone who responds
Short Sale Vs. Foreclosure?
Posted by: | CommentsMy exhusband and I went through the process of a short sell on our house to avoid foreclosure. Does this look the same on my credit report?
Disadvantages Of A Sale Leaseback For The Investor?
Posted by: | CommentsMy friend was approached with a Sale Leaseback opportunity. She is promised a certain amount of money over time. She will act as the investor in the situation.
Does anyone know if this is a scam or risk to the investor?
The agent set up the buy of the house on a foreclosure. She takes out the loan, at the end of the lease, the agent gives her money made off of the people who signed the house over to her to avoid foreclosure.
What’s The Best Credit Card To Get To Help Rebuild Credit?
Posted by: | CommentsI want to get one credit card to rebuild credit. What’s the best one right now. I hear Capital One is a really bad one. We filed chapter 7 after losing a business and get tons of offers. I don’t plan on using it other than to just keep a small balance and show good payment history. We are working on getting back into a house in the next year. We sold our house to avoid foreclosure and are currently renting.