Posted on: 28th Jul, 2008 02:18 pm
...and the lenders are asking for 10K down and $400 monthly payments.
My exhusband has been communicating with them and we wanted to know do they have the right to ask for the down payment? The mobile home was in Tx.
My exhusband has been communicating with them and we wanted to know do they have the right to ask for the down payment? The mobile home was in Tx.
Hello and welcome to the forum. Are you trying to repurchase the home?
It sounds like the bank took back your home and is now trying to sell it back to you?
That is an extremely strange arrangement. can you give us any more details about if it went to auction and if you've been given notice to vacate or anything?
That is an extremely strange arrangement. can you give us any more details about if it went to auction and if you've been given notice to vacate or anything?
The mortgage company picked up the house, sold it and are asking for the remaining balance of 50k. This includes refurbishing, pick-up, and moving expenses, also commission to salesman. Oh and my credit is not good! Do not want this home.
Hi claudinebluejean.
Welcome back.
The lender can ask the deficient amount. Are they seeking the deficiency judgment? If you think the lender is asking for more than what you owe to him then you can send him a debt validation letter asking him for the debt validation.
Best of luck,
Larry
Welcome back.
The lender can ask the deficient amount. Are they seeking the deficiency judgment? If you think the lender is asking for more than what you owe to him then you can send him a debt validation letter asking him for the debt validation.
Best of luck,
Larry
The lender sent me a letter validating all that was owed. Just wanted to see what my options were about the down payment and all that. Looks like I'm stuck! Any suggestions on how I can get 5K? That's my part of the 10k down payment. I have a 99 Ford F150 that I've used before to get funds for my wedding but if I can't, any other suggestions.
Hi Claudine,
You can ask your relatives or friends if they are willing to provide you with some assistance in the form of gift funds. There are other sources for down payment. Check them out at http://www.mortgagefit.com/down-payment.html .
Thanks.
You can ask your relatives or friends if they are willing to provide you with some assistance in the form of gift funds. There are other sources for down payment. Check them out at http://www.mortgagefit.com/down-payment.html .
Thanks.