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If you do not have one yet, and I surely hope you do, GET AN ATTORNEY NOW.
It may be a little like shutting the barn door after the horse ran away and the hay blew away, but you can possible mitigate some damages and get back some of the extension money you have paid. Holy moly, batman!
It boggles my mind that people try to buy a home without an attorney every step of the way BEFORE signing any contract. People, we aren't talking a few hundred dollars, or even a few thousand dollars.
The op has added ~$10K in fees to his house purchase. Some of you find it incredible that he did. Where was his legal advice?
The property is owned by HUD. I am still pending this and title company doesnt not return emails or phone calls. I feel like I am in the twilight zone.
...Up to 6 months of prior unpaid dues can be imposed on the buyer. Legal collection costs are negoitated....
I'm glad that in my state, outstanding HOA dues stay with the previous owner that owed them, and are not the responsibility of the new buyer. The HOA can go after the previous owner for the unpaid dues.
I have also paid around 6 contract extensions fees ($2250) and 5 rate extensions ($3000)...
Not sure what your talking about? Who did you pay these fees to? Sounds like your getting scammed here. You stated this has been since December 2011, it's March 2012 now, it's only been about 4 months. The only time it's beneficial to "lock" in your mortgage interest rate is if interest rates are going up and they clearly haven't been. What possible reason can you justify paying the bank $600 each time for rate extensions, and if your are paying them, why isn't the rate locked in for at least 90 days? For that kind of money, I would demand at least 90 days rate extension. As for the Contract extensions, who is charging you? A lawyer to write up the contract? A realtor? A contract extension is only a piece of paper signed by both parties agreeing to extend the contract, there certainly shouldn't be a huge fee associated with each extension and if there is, it should be for a long enough time so only 1 is needed. How long were these extensions 2 weeks each time? I would demand nothing less than 90 days for each extension.
Somethings fishy here, looks like you being scammed to me.
Sorry to be blunt but you are getting screwed and it seems to be from both ends. unless this property has sentimental value to you (like you grew up in it etc). This deal would have been dead the first time they asked me to cough up an extention fee for something that is totally out of my control.
Rates have not increased so there's no reason you should have been charged rate extensions. Based on the original post sounds like a scam. Didn't you have a buyer's agent involved? Since they cannot deliver clear title, unless you've signed a contract with them for another extension, they are in breach of contract and you are indeed entitled to your deposit back. If you do not have an attorney nor wish to pay money for one, you may want to contact your state attorney's general's office or contact the state dept. of banking that handles the licensing for banks, mortgage companies, etc. They often have a consumer affairs division which at the very least you can log a complaint and they will investigate. All else fails contact your local news station...they love a good investigative story. Good luck!
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