InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: bank lied/Todd Posted by Misty on August 14, 2001 at 6:54 PM In Reply to: Re: bank lied posted by Todd on August 14, 2001 at 6:24 PM a written notice saying you didn't have to make your payments. Also, you rented the property. Most mortgages require the owner to actually live in the home. If the bank knew you weren't living there, then you won't qualify. You didn't live there and weren't making payments....hmm. Yes the bank lied. Take note: They told us we WOULD qualify for a deed in lieu. A woman actually told me "IF you don't sell the home within 90 days we will just GIVE you the deed in lieu"..This while KNOWING all along that we did not reside in the home. IF the bank had told us when we first called that we didn't qualify for those things (Deed in lieu or preforeclosure sale)--- we would have either a)taken out a loan to pay a few months worth while we tried to rent again, or b) tried to refinance, or c)asked for a few months deferred until we got it rented again. The bank was so quick to make us believe we could get the deed in lieu, we did not want to keep putting money into paying for the home,(in a bad neighborhood mind you). So yes. The bank lied. The lawyer i saw felt so, and the vice president of the mortgage company also was shocked at how our case was handled. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : a written notice saying you didn't have to make your payments. Also, you rented the property. Most mortgages require the owner to actually live in the home. If the bank knew you weren't living there, then you won't qualify. You didn't live there and weren't making payments....hmm. : Yes the bank lied. Take note: They told us we WOULD qualify for a deed in lieu. A woman : actually told me "IF you don't sell the home within 90 days we will just : GIVE you the deed in lieu"..This while KNOWING all along that we : did not reside in the home. IF the bank had told us when we first called : that we didn't qualify for those things (Deed in lieu or preforeclosure : sale)--- we would have either a)taken out a loan to pay a few months worth : while we tried to rent again, or b) tried to refinance, or c)asked for : a few months deferred until we got it rented again. The bank was : so quick to make us believe we could get the deed in lieu, we : did not want to keep putting money into paying for the home,(in a : bad neighborhood mind you). So yes. The bank lied. The lawyer i saw : felt so, and the vice president of the mortgage company also was : shocked at how our case was handled. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455