Posted on: 04th Sep, 2009 09:38 am
Hi all. I think I have found myself in a sticky situation through miscommunication. I recently moved in with my fiance and began renting out my own house. I bought the house 2 years before I met my fiance - and we're planning on getting married in October, 2009.
About 6 months ago when a lot of my friend were getting better interest rates through a re-finance, I called my lender to inquire. They asked me if "the property was owner occupied with the intent to keep" and I told them I did not live there and I did not have the intent to keep it...only because I was planning on selling it after my tenants contract was up.
Apparently the customer service person took that to mean I was going to walk away from the house and stop paying for it - however this is not the case. I have continued to make the monthly payments with no issues.
Over the last week, I received several letters from vaious attorney's and legal offices stating that the house was now in foreclosure. When I called to speak with the lender - they said they were 'protecting their interests' because they thought I was going to walk away from the house.
One of those letters that came was addressed to the "Unknown Spouse of..." I have a copy of the original mortgage and I am the only one on there. I hadnt even met my fiance...who will be my wife in a couple of months.
While all of this is being ironed out with the lender and attorneys, is there something I need to do to ensure that my fiance isnt going to be impacted by this - or is this just a formality?
Thanks in advance!!!
About 6 months ago when a lot of my friend were getting better interest rates through a re-finance, I called my lender to inquire. They asked me if "the property was owner occupied with the intent to keep" and I told them I did not live there and I did not have the intent to keep it...only because I was planning on selling it after my tenants contract was up.
Apparently the customer service person took that to mean I was going to walk away from the house and stop paying for it - however this is not the case. I have continued to make the monthly payments with no issues.
Over the last week, I received several letters from vaious attorney's and legal offices stating that the house was now in foreclosure. When I called to speak with the lender - they said they were 'protecting their interests' because they thought I was going to walk away from the house.
One of those letters that came was addressed to the "Unknown Spouse of..." I have a copy of the original mortgage and I am the only one on there. I hadnt even met my fiance...who will be my wife in a couple of months.
While all of this is being ironed out with the lender and attorneys, is there something I need to do to ensure that my fiance isnt going to be impacted by this - or is this just a formality?
Thanks in advance!!!
your lender sounds like it's staffed with a bunch of fools. of course, i ought not to be surprised - the world is full of them, after all.
i don't understand, at all, how you would suddenly begin receiving letters from "various attorneys and legal offices" indicating that the home is in foreclosure. by all means, you ought to be given that information by your lender, not some disinterested third party. that truly makes no sense.
who is generating these letters? are they coming from your lender or are they coming from the usual cast of suspects who try to rip off everyone around them?
i don't see any reason your fiance ought to be impacted by all this foolishness. and i also hope that "lender and attorneys" means that you've engaged the counsel of a good attorney who will see to it that you are not injured by all this.
that you had a phone conversation concerning a possible refinance, during which you noted that you had vacated the home and turned it into a rental, and that you planned to sell it eventually, turned into a foreclosure is not only unbelievable and unreasonable...it's downright unconscionable.
i'd ask you to tell us who these fools are, but i don't really want to try to persuade you to besmirch their name publicly. if they're that ridiculous with you, then you can't be alone, and the publicity will start soon enough.
i don't understand, at all, how you would suddenly begin receiving letters from "various attorneys and legal offices" indicating that the home is in foreclosure. by all means, you ought to be given that information by your lender, not some disinterested third party. that truly makes no sense.
who is generating these letters? are they coming from your lender or are they coming from the usual cast of suspects who try to rip off everyone around them?
i don't see any reason your fiance ought to be impacted by all this foolishness. and i also hope that "lender and attorneys" means that you've engaged the counsel of a good attorney who will see to it that you are not injured by all this.
that you had a phone conversation concerning a possible refinance, during which you noted that you had vacated the home and turned it into a rental, and that you planned to sell it eventually, turned into a foreclosure is not only unbelievable and unreasonable...it's downright unconscionable.
i'd ask you to tell us who these fools are, but i don't really want to try to persuade you to besmirch their name publicly. if they're that ridiculous with you, then you can't be alone, and the publicity will start soon enough.