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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?
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.
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
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.
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.
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