Localfund.com - All about Fund and Investment
*Home>>>Investor

Are there legal options I can take on the investor that bought my house?


I used an investor to supposedly buy my house and just checked my credit report and on my credit report it is listed as a foreclosure. I am still getting calls from the mortgage company on my heloc. Do I have the right now to seek legal counsel on this group of scam artists?

Supposedly buy? What did you do let the person take over your mortgage against the rules of the documentation you signed when you took out the loan? Doesn't matter now you will have to pay an Atty to get the mess straightened out no matter what you have done as long as that SUPPOSEDLY word is in there.

Scam artists, we would not know that unless we know what was done and if a gun were being held to your head when you signed on to this "scam" without consulting an Atty.

You'd better get a lawyer and see if you can undo whatever you've done.

You don't give enough details for anyone to know what actually happened. Without knowing what was done no one can offer advice on what you should do. All that we know is you dealt with an investor and you have a foreclosure on your record. There is a lot that can and could happen between those two things.

If you feel like something illegal has been done, talk to a lawyer.

I don't know how you could have sold the home to the investor if the bank foreclosed on the property. The bank would then be the new owner.

Hire a real estate attorney.

You need a lawyer fast.

You have not sold your property, The investor could not get a clear title to the unit without the bank releasing the loan, or letting them assume it..

With what you have said, I would contact the bank's attorney, and then maybe the local district or city attorney,,

The investor might be taking the rents and keeping them,, You should give them a call first,, Do not make any threats, but try to get them to go to the bank with you. Then if not, push that sucker into the ground, and see if you can get him in JAIL

Investor Landlord for 20 years. and never scamed anyone.. Could have, but didn't..

I expect that you "sold" your house to an investor on a contract for deed, lease option, rent to own or some other such type of transaction. On all of these, you turn over the keys and control of your house - and you still have a loan in your name. That's not a good thing to do.
The investor probably "sold" the house to someone with a good down payment and no earthly way to make the payments - thus the foreclosure.

When you bought your house and signed all the loan papers, you said that you would not "sell" your house by any of the above manners. The lender actually had the right to foreclose even if the new buyer was making the payments - though especially in this market, they would never do that if the payments are being made.

Depending upon what state you live in, the disclosure laws (advising buyers and sellers) of the risks involved in these types of transactions may be strict or may be lax. Also, if the "investor" is a licensed real estate agent in the state, the disclosure laws will be strict. Lastly, (I've heard) that when a contract omits something material (important), the court will rule against the side that wrote the contract (probably the investor). So do get an attorney and find out if there is anything you can do.

Tags
  Make Money   Low Risk Investment   Long Term Investment   Investor   Investment Fund   Investment Trading   Investment Strategy   Investment Services
Related information
  • Looking for a Private Investor!?

    ok == got me == but what are you planning on doing -- send be a copy of you businsss plan and i will see what i can do!!!

    ...
  • How to find an investor 4 business idea.?

    www.growthbusiness.co.uk Business Angels kind of like "Dragons Den" on television - local people with masses of money willing to invest in local business ideas of merit.

    ...
  • When can real estate investor be treated as a business?

    The IRS has specific rules of when a real estate investor is considered a business. Here's the link to it: ...

  • If you were financial investor, would you fund Celtel? Why or why not?

    dpedning on where in africa i would porbably say no as parts of africa are so unstable that the chance of government changing or some group of rebels, or warloard coming and taking over the area is...

  • What is a target investor?

    With regard to lowering the price of stocks, no. Stock price is determined by supply and demand. With regard to extra services, fees, or benefits, yes. I have actually received mail from compa...

  • What are some must read books for every stock investor?

    "Beating the Street" by Peter Lynch has long been a classic. "How to make money in Stocks" by William J. O' Neill. One may also consider reading a book on stock optio...

  • Where can I find an investor to go in with me on a number of real estate "flips"? I can provide all the...

    It does make a difference that you live in Canada only because you need to find a local investor network or an investor group in the states that are allowed to do business in Canada. Go to the sea...

  • Waht type of partnership is best for an investor?

    Unless you want him to be involved in making decisions in the business, give him no more than a limited partnership; not a limited liability partnership which will give him operations within your b...

  •  

    Categories--Copyright/IP Policy--Contact Webmaster