A finance com.is blocking the acquisition of the house we have an unconditional contract on. What can we do?
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Martin asked:
We have placed a caveat on the title, but they are taliking about taking the house to mortgagee auction in the hope of getting more money than we have agreed to pay. Is there any legal action I can take aginst the finance company? No point sueing the vendor he’s gone bankrupt and is leaving New Zealand.
Kenneth
We have placed a caveat on the title, but they are taliking about taking the house to mortgagee auction in the hope of getting more money than we have agreed to pay. Is there any legal action I can take aginst the finance company? No point sueing the vendor he’s gone bankrupt and is leaving New Zealand.
Kenneth
December 16th, 2007 at 11:42 am
Finance company [mortgage holder] successfully they havent done anything wrong and bid less than your contract amount which would be fine and the difference between what youve agreed to compel them take loss you think.
Finance company [mortgage holder] successfully they havent done anything wrong and bid less than your contract amount which would be fine.
December 19th, 2007 at 7:21 am
What it seems you are trying to do is to buy the house for less than owed on it. Called a short sale, The mortgage co has first right to the house up to and including the balance and fees on the property.
Pay what is owed on the house if the judgment has not been entered, If judgment has been entered you have no right to the property.
Your are one sneaky bustard LOL good luck I admire your nerve.