|
09-09-2008, 09:19 PM
|
|
|
|
4 posts, read 12,789 times
Reputation: 10
|
|
|
We have been building a house for 2 years. We have put 255000.00 cash into this house. Now that we are ready to close she can't!
She cannot cover the leins that have been placed on the property due to no cash. What happens??
Will the bank foreclose on her? What will happen to our money? Please advise?
|
|
09-09-2008, 10:04 PM
|
|
|
|
Location: Deep in the heart of Texas
1,917 posts, read 6,508,553 times
Reputation: 1966
|
|
|
Contact an attorney asap. Good luck.
|
|
09-10-2008, 12:27 AM
|
|
|
|
Location: Fort Myers, FL
1,286 posts, read 2,664,311 times
Reputation: 249
|
|
|
what liens? did they not pay there subcontractors and spent the money so your riddled with mechanical liens?
|
|
09-11-2008, 05:55 PM
|
|
|
|
4,396 posts, read 11,589,616 times
Reputation: 2621
|
|
Quote:
Originally Posted by blueleo
We have been building a house for 2 years. We have put 255000.00 cash into this house. Now that we are ready to close she can't!
She cannot cover the leins that have been placed on the property due to no cash. What happens??
Will the bank foreclose on her? What will happen to our money? Please advise?
|
My job at a major bank is to work thru these type issues. What type loan is it, how much in liens are we talking about, was the builder paid and they not pay the subs. Need more information or shoot me a PM. |
|
09-24-2008, 12:27 PM
|
|
|
|
4 posts, read 12,789 times
Reputation: 10
|
|
Quote:
Originally Posted by Grainraiser
My job at a major bank is to work thru these type issues. What type loan is it, how much in liens are we talking about, was the builder paid and they not pay the subs. Need more information or shoot me a PM.
|
It is a nightmare. We still have not closed. We have no recourse due to her other homes going into foreclosure. HELP. blueleo1@gmail.com |
|
09-24-2008, 01:16 PM
|
|
|
|
Location: Montrose, CA
3,031 posts, read 8,123,003 times
Reputation: 1938
|
|
Quote:
Originally Posted by blueleo
It is a nightmare. We still have not closed. We have no recourse due to her other homes going into foreclosure. HELP. blueleo1@gmail.com |
Why are you asking here? Go get an attorney. A public forum isn't the place to find help to get your $255k back! |
|
09-24-2008, 05:03 PM
|
|
|
|
878 posts, read 1,903,901 times
Reputation: 463
|
|
Quote:
Originally Posted by blueleo
It is a nightmare. We still have not closed. We have no recourse due to her other homes going into foreclosure. HELP. blueleo1@gmail.com |
Lawyers, Find a Lawyer, Law Firm & Attorney Directory - martindale.com
You do have recourse, you can get your house closed on. You may have to pay off the liens yourself, but that's why you get an attorney.
Step one: Find a real estate attorney.
Step two: Talk to the real estate attorney.
Step three: Take the real estate attorney's advice. |
|
09-24-2008, 08:52 PM
|
|
|
|
4,396 posts, read 11,589,616 times
Reputation: 2621
|
|
|
Sadly if the builder is going bankrupt there's not much the OP can due to get her money back. She can file suit but that will not help her in the short run. OP I am sending you a email.
|
|
09-28-2008, 08:57 PM
|
|
|
|
4 posts, read 12,789 times
Reputation: 10
|
|
|
ALL --- I have an attorney and have had an attorney for the last 9 months.....the cost of the attorney is killing me.....many don't realize that unsecured deposits to builders have no security what so ever. There is no recourse on the builder...she goes bankrupt and takes my funds with her....she should be in jail due to misappropriation of funds and fraud...hopefully this will be the case.
|
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
