Posted on: 27th Apr, 2010 03:38 pm
Recently I have become unemployed. The mortgage company is seeking foreclosure. In the foreclosure papers it is noted the property description is wrong. The property is described with compass directions that signify the boundaries. All these years we have been paying mortgage on a property the mortgage company has filed in the mortgage contract with a wrong property description. What is my possible recourse at this point? Is the contract void due to wrong property description. The county has the proper property description but the mortgage company does not. They are saying we do not have clear title. Can you help with some advice on this?
Hi rockfam,
As far as I can understand, the property description needs to be corrected. In my opinion, you should immediately get in touch with a real estate attorney and take his opinion in this regard. He would be the best person to guide you as to what steps you need to take in order to rectify the property description.
Thanks
As far as I can understand, the property description needs to be corrected. In my opinion, you should immediately get in touch with a real estate attorney and take his opinion in this regard. He would be the best person to guide you as to what steps you need to take in order to rectify the property description.
Thanks
You do not want the property description corrected.
You want to know if they can foreclose if they have the wrong property description.
I do not know the answer. Just wanted to clarify the question.
You want to know if they can foreclose if they have the wrong property description.
I do not know the answer. Just wanted to clarify the question.
Ibought a small Holding and was told it was 10.5 acres for£360,000.00,tdue to illness I had the premises repossessed.It was resold for£300,000.00 and was said to be 8.5acres.The mortgage company then said I owed them £39,000,and put a claim against my current premises.I was definately lied to and sold the wrong product,what can I do?
Hi Johnny,
You should contact a real estate attorney and he will let you know what you need to do in this regard. He will be able to let you know what legal steps you can take in this regard.
You should contact a real estate attorney and he will let you know what you need to do in this regard. He will be able to let you know what legal steps you can take in this regard.