Posted on: 14th Feb, 2013 11:32 am
I went into a Land Contract 4/2012 and have paid every month on time including the taxes and home insurance. The title is in my name with the seller being lein holder.
As of 12/31/2012 my Land Contract expired. I have been working with a lender to get a loan since 11/30/2012. As of the last week of Dec the lender told me he had forwarded my documents to the investor. On 2/8/2012 I found out the documents never got forwarded. All this time I have been told that they are talking to the investor about me and not sure what is taking so long to set a closing. Now the owners want to file a foreclosure because we are in default of the contract.
Is there something I can do to stop this?
As of 12/31/2012 my Land Contract expired. I have been working with a lender to get a loan since 11/30/2012. As of the last week of Dec the lender told me he had forwarded my documents to the investor. On 2/8/2012 I found out the documents never got forwarded. All this time I have been told that they are talking to the investor about me and not sure what is taking so long to set a closing. Now the owners want to file a foreclosure because we are in default of the contract.
Is there something I can do to stop this?
HI vettress,
Well, things are difficult for you. It will be better if you could negotiate with the seller and get the contract extended so that you get some time to arrange for financing. I will also suggest you to contact other lenders in order to complete the loan process.
Well, things are difficult for you. It will be better if you could negotiate with the seller and get the contract extended so that you get some time to arrange for financing. I will also suggest you to contact other lenders in order to complete the loan process.