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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: bank lied Posted by Ben Wells on September 01, 2001 at 11:08 AM In Reply to: Re: bank lied posted by Ward-CA- on August 13, 2001 at 6:25 PM Unless you have something in writing I don't know if you're attorney will be able to do anything but slow down foreclosure. This might give you some extra time to find a buyer. Keep in mind the bank is greedy. Also, they have legal departments. It sounds like you're short on cash as it is, they can out spend you. You're best bet is to save your credit and bail out now. Your credit is more valuble than revenge on the bank. You need to sell out. Ben Wells : : This is the deal: We moved from one home, to another. Could not sell the other. So we rented it out for a few years. The market is so bad there, we finally called the bank and told them our trouble. They said we'd qualify for a Deed in leiu of foreclosure etc. and prompted us to fill out the paperwork. That said, we did so-- and stopped making payments out of our pocket for the first home.(We had no renter in it by then either). We waited. And waited. Not making payments, as they assured us we would get the deed in lieu and we could not afford two mortgages. WELL A year later the company tells us we can't qualify for the deed in lieu OR any help with this, because we haven't resided in the home all this time. IF they had told us this last year, we'd have sought other options/arranged to rent it and bear the burden another year of dealing with it..etc. Now foreclosure is imminent, and we are left feeling as though they duped us. They lead us to believe one thing, for an entire year!! NOW we want to make this right, avoid the foreclosure. We haven't had anyone put in a purchase offer, we may be able to rent it. We want to rent it- and start making payments again but they may not let us. We're going to have our lawyer draft a letter. Don't you think that because they gave us misinformation, they should be willing to work with us on this? Any advice? : =•=•=•=•=•=•=•=•=•=•=•=•= : Misty, sounds like you were misled. In that case I think your action to have your attorney fire a salvo across their deck might motivate them to let you reinstate the delinquent payments. : Good luck to you. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Unless you have something in writing I don't know if you're attorney will be able to do anything but slow down foreclosure. This might give you some extra time to find a buyer. Keep in mind the bank is greedy. Also, they have legal departments. It sounds like you're short on cash as it is, they can out spend you. You're best bet is to save your credit and bail out now. Your credit is more valuble than revenge on the bank. You need to sell out. : Ben Wells : : : This is the deal: We moved from one home, to another. Could not sell the other. So we rented it out for a few years. The market is so bad there, we finally called the bank and told them our trouble. They said we'd qualify for a Deed in leiu of foreclosure etc. and prompted us to fill out the paperwork. That said, we did so-- and stopped making payments out of our pocket for the first home.(We had no renter in it by then either). We waited. And waited. Not making payments, as they assured us we would get the deed in lieu and we could not afford two mortgages. WELL A year later the company tells us we can't qualify for the deed in lieu OR any help with this, because we haven't resided in the home all this time. IF they had told us this last year, we'd have sought other options/arranged to rent it and bear the burden another year of dealing with it..etc. Now foreclosure is imminent, and we are left feeling as though they duped us. They lead us to believe one thing, for an entire year!! NOW we want to make this right, avoid the foreclosure. We haven't had anyone put in a purchase offer, we may be able to rent it. We want to rent it- and start making payments again but they may not let us. We're going to have our lawyer draft a letter. Don't you think that because they gave us misinformation, they should be willing to work with us on this? Any advice? : : =•=•=•=•=•=•=•=•=•=•=•=•= : : Misty, sounds like you were misled. In that case I think your action to have your attorney fire a salvo across their deck might motivate them to let you reinstate the delinquent payments. : : Good luck to you. 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

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