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Was leasing to own home and had a closing date on Apr. 30 and…

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Was leasing to own home...
Was leasing to own home and had a closing date on Apr. 30 and found out by the title comp. that the owner has two liens on the house and one is for 800,000. I have invested over 20,000 in the house. Now the house might go to foreclosure and need to know what I can do. Thanks, XXXXX XXXXX marcos tx
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 3 minutes by:
6/17/2010
Real Estate Lawyer: WALLSTREETESQ, Lawyer replied 8 years ago
WALLSTREETESQ
Category: Real Estate Law
Satisfied Customers: 17,267
Experience: 10 years, Real Estate litigation, represent the UFT, NYSID, AFL-CIO, PPD Network Attorney
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you need to sue the homeowner for the monies you paid, also consider filing a LIS PENDENS lawsuit to stop the foreclosure, as you have a claim of ownership. The problem you have is if the $800,000 lien is a mortgage, and it is foreclosing on the home the owner would be breaching your agreement, but recovering any money from him would be difficult.
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