Here is my problem. 18 months ago we leased this house with opposition to buy in Nov. the owner of the house

Asked by Currington, 21811 Wed Aug 12, 2009

filed bankruptcy and surrenderd the house. The trustee of the bankruptcy court told us the make the house payment to them and we are In July in bank that the house is under sent us a notice that the house will be sold in Oct. in an forecloucer action. The bank has not tried to get hold of us and when we call they don't answer. When we talked to the trustee about where the money is going. We was told that is put into a special fund to pay the exowners bills. So my question is where do we stand and what is going to happen to us?

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, ,
Wed Aug 12, 2009
Unfortunately you paid for someone else's tab. You may be able to buy the home after it forecloses at a reduced cost. You could also take the seller to court for what you put down (if anything). If it were me I wouldn't put another dime into the home until the trustee records the foreclosure. Best of luck
0 votes
Bill Wootan's…, , Waldorf, MD
Wed Aug 12, 2009
I would get an atttorney ASAP!

Bill Wootan
Web Reference:  http://www.billwootan.com
1 vote
Kevin & Moni…, Agent, Ocean City, MD
Wed Aug 12, 2009
I agree with my colleagues. Your question is really a legal one. Go to the bank that you routinely do your banking with, and see how much of a mortgage you can qualify for. If you are in a position to do so, and have been prequalified with your lender/bank, then you can bid at auction.

Another alternative would be to start looking at other homes now, and if possible, attempt to recoup your loses from the owner of the home that you entered into a lease w/option to purchase agreement. Of course with the assistance of an attorney.

Best of luck to you.
0 votes
Fernando Her…, Agent, Gaithersburg, MD
Wed Aug 12, 2009
You may want to speak to an attorney for this. . this is a forum for Realtors and it sounds that you may need legal help. .
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