• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Foreclosure & civil interpleader documents

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

Miajere

Junior Member
Texas
14 years ago my parents took out a mortgage to purchase a home in my name. They lived there and while I went to college, they paid the mortgage.
They stopped making payments due to financial troubles. I decided it would be best to sell the home to avoid the credit issues. I found a Realator and began fixing the home.. They did not agree and refused to vacate the home preventing me from putting the house on the market. The home has recently foreclosed and auctioned for more than the value of the amount due to the bank.

My parents contacted me a few weeks ago regarding an civil interpleader document I should’ve received, but didn’t.

I need to know if this document is a suit filed on the part of the mortgage company or them? If there is a website to go to learn more?
Does the amount of foreclosed legally belong to my parents?
How to avoid any further problems in proceeding after the surplus money from the home?
Should I be filling something with the mortgage company or state in order to deal with the funds.
Is the interpleader document time sensitive.
 


quincy

Senior Member
Texas
14 years ago my parents took out a mortgage to purchase a home in my name. They lived there and while I went to college, they paid the mortgage.
They stopped making payments due to financial troubles. I decided it would be best to sell the home to avoid the credit issues. I found a Realator and began fixing the home.. They did not agree and refused to vacate the home preventing me from putting the house on the market. The home has recently foreclosed and auctioned for more than the value of the amount due to the bank.

My parents contacted me a few weeks ago regarding an civil interpleader document I should’ve received, but didn’t.

I need to know if this document is a suit filed on the part of the mortgage company or them? If there is a website to go to learn more?
Does the amount of foreclosed legally belong to my parents?
How to avoid any further problems in proceeding after the surplus money from the home?
Should I be filling something with the mortgage company or state in order to deal with the funds.
Is the interpleader document time sensitive.
Please clarify:

Is the mortgage in your name or in your parents' names?

Have you paid anything on the mortgage in the last 14 years?
 

LdiJ

Senior Member
Texas
14 years ago my parents took out a mortgage to purchase a home in my name. They lived there and while I went to college, they paid the mortgage.
They stopped making payments due to financial troubles. I decided it would be best to sell the home to avoid the credit issues. I found a Realator and began fixing the home.. They did not agree and refused to vacate the home preventing me from putting the house on the market. The home has recently foreclosed and auctioned for more than the value of the amount due to the bank.

My parents contacted me a few weeks ago regarding an civil interpleader document I should’ve received, but didn’t.

I need to know if this document is a suit filed on the part of the mortgage company or them? If there is a website to go to learn more?
Does the amount of foreclosed legally belong to my parents?
How to avoid any further problems in proceeding after the surplus money from the home?
Should I be filling something with the mortgage company or state in order to deal with the funds.
Is the interpleader document time sensitive.
Since the auctioned off sales price for the house was greater than the amount due to the creditor that left a balance to the owner, which is apparently you.

An interpleader action would be your parents attempting to be awarded that amount or part of that amount because they believe that it belongs to them.

There is likely some time sensitivity involved in the whole thing. You might want to check with the local courts to see what, if anything, might have been filed.
 

quincy

Senior Member
When there is a foreclosure auction and the lender is paid in full, Texas law requires the lender to remit any excess funds to the borrower. If there is a dispute over to whom these funds belong, the lender can file an interpleader action to resolve all claims to the funds.

You might want to have an attorney in Texas assist you.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top