I need help with finding out what can do about a house going into foreclosure?

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We have been on a lease to buy a house and last month started the loan to buy it then we find out today that the owner hadn’t been making payments and the mortgage company foreclosed. We have got our loan approved and could close in about 9 more days. We had already given the owner a 10k down payment and have it in writing with his signature, but now don’t know what will happen does anyone have any info or been through this we want this house

4 Comments
  1. Reply
    Jenn
    May 14, 2011 at 11:52 pm

    I would talk to an attorney, they would be the best to talk to or the bank, or real estate company,, at least if they can’t answer your question, they could tell you who could. Best of luck!!

  2. Reply
    Valley R
    May 15, 2011 at 12:14 am

    Hopefully you did this all through a Realtor … actually probably not, because a Realtor would have known all this info.

    At this point, you need to contact an attorney ASAP.

  3. Reply
    mosquitonation
    May 15, 2011 at 12:59 am

    It makes me so angry when I see people like your landlord, he knew he had no ability to sell the house, you should contact a lawyer and perhaps the police. Your 10g may be gone. He sold something that wasn’t his, it doesn’t matter if he put it in writing with his signature. Consult with a lawyer and perhaps the police asap. Next time you should always hire a lawyer to see what liens and mortgages are on the house, 90 percent of the time there is at least one mortgage but sometimes you get a rude surprise, no one can pay off all the debt on some houses. If you read one of those books how to buy or sell a house without a lawyer or real estate agent, well you are not the first to find out that there are pitfalls. I feel bad for you, see a lawyer andor the police asap.

  4. Reply
    Colleen O
    May 15, 2011 at 1:24 am

    I suggest you consult a lawyer.

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