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socrateaser
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 38801
Experience:  Attorney and Real Estate broker -- Retired (mostly)
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My family was facing foreclosure with chase bank and agreed

Resolved Question:

My family was facing foreclosure with chase bank and agreed to enter into a forebarence agreement. they strung us along for over 4 months and finally overnighted the paperwork 4 days before the auction. the agreement and payment of 4000 dollars was sent back and recieved by chase the next day. 3 days later our house was sold at auction after chase had already told us they recieved everything and it would not be sold. the guy who bought the house will not back down and chase sent a petition to the court for us to get our house back and the guy to get his money back. we thought evrything was going to work out but than we got a letter from western union saying chase denied the payment 14 days after it had been sent and posted they had accepted it. we have no idea what to do or who to believe anymore.
Submitted: 8 years ago.
Category: Real Estate Law
Expert:  socrateaser replied 8 years ago.

Smells like a dead fish.

 

If the lender has actually filed a petition with the court to rescind the foreclosure, that is pretty much an admission of fault. The problem is that if the property was sold at a trust deed sale, then there's pretty much no way to get the property back, other than to purchase it back from the new owner -- which the lender could certainly do, and then return the property to you.

 

You REALLY need an attorney to "intervene" in the action between the lender and the new owner. You have a possible case for fraud or negligent misrepresentation against Chase, which would get you compensatory damages sufficient to make up for your loss of the property.

 

And, if you can show that the property had an inestimable sentimental value, then your damages could be quite substantial (big...maybe huge).

 

Note: this is the sort of thing that makes great media (20/20, 48 Hours, Nightline, etc.), and bad media for the lender.

 

NOTE: I am NOT suggesting that the lender or anyone else has in fact defrauded you or done anything wrongful, unlawful or illegal. I am simply responding to your statements as if they are true (this is me covering my a**, because I don't want to get sued for defamation).

 

 

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