Bernaldiaz
Member
In March of 2017 we had flooring installed in our home. The salesman came to our house and we went through the basics of choosing the design. Next we went through the purchase agreement(s). During that time I would have been appalled if he told us the loan would be considered as a second mortgage as I have always abhorred second mortgages and would never, under any circumstances, take a second mortgage. I would told him the deal was off there and then despite any kind of pressure he may exert.
Fast forward to the fall of 2018. We sold our house already and we took a temporary rental so we could find a house to purchase. When we went shopping around for pre approval on a mortgage we were greatly surprised to find there was a blemish on our credit score marked as a LATE MORTGAGE PAYMENT which in reality was a late payment because it fell between the cracks when we were moving in June. I neglected to pay the payment. The mortgage lender said there was nothing we could do because the rules state we cannot have a late mortgage payment within the last year on our credit report and the flooring loan is marked as a MORTGAGE on our report. Unbelievable! WE WERE NEVER TOLD THE FLOORING LOAN WOULD BE CONSIDERED A SECOND MORTGAGE! Not even on our agreement(s) which we electronically signed and we have copies of!
We would have paid the loan off with the sell of our house but we didn't receive enough from the sell to do it and we had to get out from under the debt that kept growing drastically with the fast rising county taxes and insurance.
Now we are making payments on a flooring loan which Sears Home Improvement sold us without proper representation. Part of the agreement states there would be NO VERBAL CONTRACTS and signing for a second mortgage/lien on the house is no where in our written contract.
So it comes down to this: Do we have a case against Sears Home Improvement for misrepresentation? They signed us up to a loan without the complete details and now because of it we are suffering while paying rent when we could be putting that money towards a mortgage several months ago. Because of a late payment (there were two earlier ones because I didn't have the exact due amount correct) we now have a lien on the house that we sold already!
Everybody we talk to tells us if there was a true lien then it would have come up at the closing of the house. However, it is damaging our credit report and when we call the loan company they tell us there is a lien on the house! A lien on a house we no longer own and would never have acquired the loan if we had known we were signing ourselves into a second mortgage! There is some form of corruption going on somewhere!
Any advice?
Thank you for your assistance.
Sincerely,
AM
Fast forward to the fall of 2018. We sold our house already and we took a temporary rental so we could find a house to purchase. When we went shopping around for pre approval on a mortgage we were greatly surprised to find there was a blemish on our credit score marked as a LATE MORTGAGE PAYMENT which in reality was a late payment because it fell between the cracks when we were moving in June. I neglected to pay the payment. The mortgage lender said there was nothing we could do because the rules state we cannot have a late mortgage payment within the last year on our credit report and the flooring loan is marked as a MORTGAGE on our report. Unbelievable! WE WERE NEVER TOLD THE FLOORING LOAN WOULD BE CONSIDERED A SECOND MORTGAGE! Not even on our agreement(s) which we electronically signed and we have copies of!
We would have paid the loan off with the sell of our house but we didn't receive enough from the sell to do it and we had to get out from under the debt that kept growing drastically with the fast rising county taxes and insurance.
Now we are making payments on a flooring loan which Sears Home Improvement sold us without proper representation. Part of the agreement states there would be NO VERBAL CONTRACTS and signing for a second mortgage/lien on the house is no where in our written contract.
So it comes down to this: Do we have a case against Sears Home Improvement for misrepresentation? They signed us up to a loan without the complete details and now because of it we are suffering while paying rent when we could be putting that money towards a mortgage several months ago. Because of a late payment (there were two earlier ones because I didn't have the exact due amount correct) we now have a lien on the house that we sold already!
Everybody we talk to tells us if there was a true lien then it would have come up at the closing of the house. However, it is damaging our credit report and when we call the loan company they tell us there is a lien on the house! A lien on a house we no longer own and would never have acquired the loan if we had known we were signing ourselves into a second mortgage! There is some form of corruption going on somewhere!
Any advice?
Thank you for your assistance.
Sincerely,
AM