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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.
woodland park, Colorado Already Tried: Have been in continues contact with chase bank and they said that they had recieved and accepted the payment and sign forberance agreemant 3 days before the sale. been in contact with the buyers real estate agent and the buyer is not willing to give up the house without a fight because of potential profit. Chase keeps telling us not to worry about it and they would enter into 3rd party negotions with the buyer and we got a copy of a petition to the court to let us keep the house. But than we recieved a letter from western union saying the payment was denied almost 2 weeks after we had confirmed chase had recieved and accepted the payment which had been posted on our account. My grandma has lived here with her husband for 20 years and he just passed away. we moved here to help take care of her. We do not have a lot of money to spend on high priced lawyers to try to fight chase and no one has made it clear to what our rights are or if we have any. we did everything that chase asked us to and got the money and signed documents in on time, they are at fault for not contacting their lawyers in time to stop the auction. We just need a straight forward answer, and us giving up this house can not be an option. there are 6 people who live here including my grandmother who is not in great health.
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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Lawyer
Attorney and Real Estate broker -- Retired (mostly)