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What happens when condemned

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GodsKid

Guest
I recently found out that the company we pay mortgage to is being sued for racketeering and a class-action suit is being filed for substadard housing conditions. The only contracts we have are Contracts of Deed...which leaves all these subdivision homes in his name until last payment is received...I feel that when inspectors come out to checks our complaints, our home will be condemned...the septic is below standard...leaking all over the backyard...house is splitting in two...water is undrinkable etc etc...and these homes are only two and three years old out here...do we have to pay for new housing if condemned? Do we have to stay in the same state?(Tx) What are our rights? He threatens foreclosure if one payment is even two weeks late. We are unsure of whether we are to keep making payments or withhold until damages are repaired. Thanks for all you help

[This message has been edited by GodsKid (edited October 15, 2000).]

[This message has been edited by GodsKid (edited October 15, 2000).]
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by GodsKid:
I recently found out that the company we pay mortgage to is being sued for racketeering and a class-action suit is being filed for substadard housing conditions. The only contracts we have are Contracts of Deed...which leaves all these subdivision homes in his name until last payment is received...I feel that when inspectors come out to checks our complaints, our home will be condemned...the septic is below standard...leaking all over the backyard...house is splitting in two...water is undrinkable etc etc...and these homes are only two and three years old out here...do we have to pay for new housing if condemned? Do we have to stay in the same state?(Tx) What are our rights? He threatens foreclosure if one payment is even two weeks late. We are unsure of whether we are to keep making payments or withhold until damages are repaired. Thanks for all you help

[This message has been edited by GodsKid (edited October 15, 2000).]

[This message has been edited by GodsKid (edited October 15, 2000).]
<HR></BLOCKQUOTE>

Hire a real estate attorney to review your particular circumstances. I would not pay the Seller but instead place your monthly payments into the attorneys client trust fund, court trust or an escrow account.
Be prepared for a long battle.

Contact www.hobb.org
 

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