• 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.

Forclosure of property for second time

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

T

TullyReill

Guest
What is the name of your state?What is the name of your state?Arizona

My undevelped property in Northern AZ is trying to be put to forclosure, again.

We have a Deed of Trust. Had fallen behind on payments and recieved formal notice from Title Company that property was in forclosure and would be sold on May 11th. We had until May 10th at 5pm to bring payments current. Money from an estate I was awaiting became available, and after finding out from the Forclosure Department of said Title Company as to the amount due to bring it curent to the June2004 payment, we did so. Thought all was cut, dried and done. Apparently not.

Recieved a call from Forclosure Department of Title Company that they had made an "error" in their calculations and we still owe in excess of $2300.00, duee to the "default interest" term in the contract. The property is being put back into forclosure, and is slated for sale on May 28th.

The initial amount to bring the property current that was stated in the Certified Letter we recieved from the Title Company was only slightly lower than the amount we were told would bring the loan current and out of forclosure, so we naturally did not expect this. If we had been told the higher amount to begin with, we naturally would have paid it as we do want to keep the property. We do not have the money available to pay this additional amount. Other than the initial Certified Letter, we have only recieved two other items in writing from the Title Company, a Reciept for the money paid to supposedly bring the loan current, and a letter after the fact stating we still owed the $2300.00+, all other communication has been via phone.

They seem unwilling to work any kind of agreement with us on this amount. After telling us a set amount to bring the loan current and accepting the agreed upon payment amount, can they do this?

Thank you for your time.
 


HomeGuru

Senior Member
TullyReill said:
What is the name of your state?What is the name of your state?Arizona

My undevelped property in Northern AZ is trying to be put to forclosure, again.

We have a Deed of Trust. Had fallen behind on payments and recieved formal notice from Title Company that property was in forclosure and would be sold on May 11th. We had until May 10th at 5pm to bring payments current. Money from an estate I was awaiting became available, and after finding out from the Forclosure Department of said Title Company as to the amount due to bring it curent to the June2004 payment, we did so. Thought all was cut, dried and done. Apparently not.

Recieved a call from Forclosure Department of Title Company that they had made an "error" in their calculations and we still owe in excess of $2300.00, duee to the "default interest" term in the contract. The property is being put back into forclosure, and is slated for sale on May 28th.

The initial amount to bring the property current that was stated in the Certified Letter we recieved from the Title Company was only slightly lower than the amount we were told would bring the loan current and out of forclosure, so we naturally did not expect this. If we had been told the higher amount to begin with, we naturally would have paid it as we do want to keep the property. We do not have the money available to pay this additional amount. Other than the initial Certified Letter, we have only recieved two other items in writing from the Title Company, a Reciept for the money paid to supposedly bring the loan current, and a letter after the fact stating we still owed the $2300.00+, all other communication has been via phone.

They seem unwilling to work any kind of agreement with us on this amount. After telling us a set amount to bring the loan current and accepting the agreed upon payment amount, can they do this?

Thank you for your time.
**A: yes they can. Hire an attorney for a second opinion.
 

Find the Right Lawyer for Your Legal Issue!

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