How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tina Your Own Question
Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
Tina is online now
A new question is answered every 9 seconds

My home foreclosed 11/4/14 due to a second mortgage I

Customer Question

my home foreclosed 11/4/14 due to a second mortgage I appeared to be a scam but the house did foreclose. I am 65 years old taking care of my family with 2 small children is there any help for me I was current on my first mortgage
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. My name is***** and I am going to assist you with your inquiry.

Expert:  MIAMILAW1127 replied 1 year ago.

Please help me understand why you believe the second mortgage was a scam? Did you never pull out a second mortgage on the property?

Customer: replied 1 year ago.
I did have a revolving line of credit with city national bank. city national went out of business and signed off on my loan. since then many companies have bought that loan and sold it. I just heard a company named trinity bank has the loan and a company named SDS was the company who sold my home. I have never heard of either of these companies. I came home one day and a notice was attached to my door saying there was a foreclosure date on 11/4/15. there was no one to speak to only a number with a recording. I feel blindsided
Customer: replied 1 year ago.
is the $52.. on top of the $45.00?
Expert:  MIAMILAW1127 replied 1 year ago.

I'm very sorry to hear about all of this.

The issue is that, although City National went out of business, that did not extinguish your loan. The debt got sold/traded. It is possible that Trinity Bank filed a foreclosure action against you.

The only true options that you have at this point would be to file a complaint with the Department of Consumer Affairs and/or to file a federal lawsuit if you believe that nay fraudulent actions were taken on behalf of the foreclosing bank.

It seems to me that the lender bought the debt, foreclosed on the property for nonpayment, and sold the property at a foreclosure sale.

Expert:  MIAMILAW1127 replied 1 year ago.

The site automatically asks if you would like to do a call. The $52 would be in addition to the amount you paid for the question.