Legal Question in Real Estate Law in Maryland

False Foreclosure

While doing a refi it shows on our credit report a foreclosure filed in 1/05. I have same home for 20 years, i have discovered a timeshare co. has done this. In 1979 we bought a timeshare = TS within 30 days my husband was seriously hurt in accident. the contract allowed us to sign it back over, which we did using a notary on letter they sent. Original Co. was bought and the new company did pursue us for payment but when we called said it was their mistake and we would not hear anything for years..all this was 20 years ago. They also would send notices to my house in the name of another person, we would call and it would stop for awhile. Now 20 years later they JUST recently put a foreclosure on our credit report..where to start, what to do..dealing with them back then was a nightmare and never seemed to really fix the problem. I can't find copy of notarized letter from 1980 that we had done and now the lender doing refi said we have to figure this out to proceed Any help is appreciated.


Asked on 4/01/05, 8:18 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: False Foreclosure

The first thing you need to do is get copies of your credit reports from any of the 3 companies that are reporting this item, and write them a letter protesting it if it's inaccurate. They will require the reporting creditor to justify the item. You should also write the creditor and explain the scenario and demand that they remove this item from your report. It's too bad you lost the letter in which you signed the property back over to them; perhaps you have other paperwork from that time that supports your position.

If you don't get any action, you could take them to court on a defamation of credit claim, asking the court for damages and an order requiring them to remove this item from your credit report.

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Answered on 4/01/05, 9:37 am


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