What to do

[srsd123]

What is the name of your state? Alabama
Our house was foreclosed on Oct 25th and then we got a letter the 27th stating there had been a data processing erroe which caused a lot of confusion to the people that had mortgages with the company. even though they admit they made an error, we are still being forced to move....we was given 10 days. The proplem....we own a lot and my son owns a lot. My son is 16 and still a minor.....we have an inground pool and it is entirely on his lot and a small portion of the house is on his lot. Does he loose his lot??? He is not part of the mortgage. The title compnay listed this house as being on one lot. We tried to sell the house at the first of the year and when we went to closing, the attorney told us we couldn`t sell it until my son was 19 and able to sign off on the property......I am confused....How can a company foreclose and yet you can`t sell?? I do have the letter that we was sent about the error if anyone needs proof that things like this happens.

[FlyingRon]

Originally Posted by srsd123

How can a company foreclose and yet you can`t sell??

Easy, don't make the payments. The inability to readily sell is a major reason why it's a bad idea to put property in children's names directly. I'm not sure he has to be 19 (just 18, but there may be some wierdness in Alabama).

As for the foreclosure, it matters not that your son is not on the mortgage, it only matters that the mortgage is secured by his property.

I do have the letter that we was sent about the error if anyone needs proof that things like this happens.

Proof of what? What error? Are you asserting that data processing error was the reason that you were foreclosed? If you have the money to pay the mortgage and it was misapplied, why did you not protest before the foreclosure? If you still have the money now, why are you not proceeding to redeem the property (I believe there is a right of redemption in Alabama foreclosures).