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I have tendered payment in full into escrow for my home they are refusing payment and are still trying to auction my home off.payment is noterized and certified is this legal?and Im in process of recording everything can the sheriff still throw us out and how long will it take?
State/Country relating to Question: California Already Tried: I tried to modify loan I sent them notice of responce notice of funds tendered in escrow I called trustee and called bank bank said they had legal councel look over my docs and said they are going ahead with sale.Now if loan is paid in full before the payoff date I.E 30 years is that default. They havent even tried to collect funds
Are you stating that you paid off the deficiency and they are still moving with the auction? When is the auction date?
The morgage company wanted 370,000 to pay off home I tendered 388,000 in escrow auction date is tomorrow and yes they said they are still moving foward with auction
Contact an attorney ASAP. Have him file an emergency motion to halt the sale, and possibly have the attorney file suit against the lender for bad faith--if they receive the funds, the deficiency disappears, and they MUST remove the property from the auction block. If your attorney can prove "unclean hands" or bad faith, part of your deficiency may even be wiped out by court order. I strongly urge you tog et an attorney right away, in the morning, without delay.Sincerely,Dimitry Alexander Kaplun, Esq.
I live in califorina there is a no deficency clause I just need to know if they can refuse my funds and sell my property anyway without even trying to collect funds that are in escrow isnt that a briech of contract
They cannot, if you are attempting to bring your contract up to paid status. Your money cannot be refused. Sincerely,Dimitry Alexander Kaplun, Esq.
And so if they go ahead and sell my property they are liable for three times damages correct
That is correct--but if you are able to stop them but do not, then you may waive your right to attempt to get punitive damages from them. So I strongly urge you to get an attorney involved ASAP.Sincerely,Dimitry Alexander Kaplun, Esq.
the paper work i sent them states if i get no response and they do not attempt to collect funds they are liable for 3 times damages all noterized and certified and soon to be recorded also sending notice of right to cancel notice of revocation of Power of Attorney notice of removal of trustee,quit claim and full reconveyance all noterized certified and recorded do you thin i still need an attorney?
Absolutely. You do need an attorney. Let me explain that I only suggest legal representation when it is needed and not because it is the easier solution. First of all your lender may argue that they did not get the funds on time, or you somehow did not follow protocol or procedure, or that you frankly were not paying them the right amount. A smart attorney can stop all that and pin the other lender to the contractual obligations. In addition, as I stated above, if bad faith can be shown, part of your debt (what I called deficiency), or at least the late fees can be wiped off if the judge feels teh other party acted in bad faith. Also you may consider having the lender pay your attorney's fees if the judge finds them in bad faith. Talk to a local attorney. Bring a copy of our communication if you like, and ask the attorney during consultation about the points I raised to you.Good luck.Sincerely,Dimitry Alexander Kaplun, Esq._____________________________________________________________________Please click "accept" so I can be compensated for my assistance. Thank you!
Attorney
JA Mentor, Licensed in PA & NJ, specialize in business/contract disputes, estate creation & admin