Asked by Sassygrl, 78258 • Tue May 26, 2009
Our story is about the same as everyone elses.
When we puchased our home we were making about $2,000 more a month than we are now.
Not only has our home went down in value thousands of dollars, also, about 2 years ago we had an inground pool put in. Thinkng everything was great. Big mistake.
We have talked to several banks about refinancing the pool, the interest is 12.5 %. And the title company cannot find the closing papers. On the contract it's listed as a 2nd Mtg. But when we tried to refinance together we were told no, its not a 2nd mtg. I don't think it's a 2nd mtg, they ask no questions about the house at the time.
I think its a loan company that only does pools .
My question is, if we have to let our house be foreclosed, what recourse
will the pool loan people be able to take with ?
I have read the doc's and it looks like they would put a lein on the house. If the house is foreclosed on, then what will the pool loan company be able to do to us? Do they sue us?
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