Legal Question in Real Estate Law in Texas
Wrongful Foreclosure
Decided to refinance with company A. The Account Rep. processed all of the paperwork and got the payoff from my current mortgage company. Closed loan at title company in July.
We were told that the loan would fund in 7 days. Got the following excuse why the funding was not happening
The loan will fund tomorrow, The loan will fund in 1 hour, The loan will fund next week, The processor is sick, but as soon as she returns, the loan will fund. The loan never funded. Company did have my homeowners insurance changed over to their name, received a welcome phone call from their corporate office at which time I was told that the loan was funded on August 27th. I called the local office and they denied the loan was funded and basically asked me not to call them anymore. They are showing on my credit report as my mortgage company.
Current mortgage company started foreclosure proceedings because they have now not received two payments. I called them and they agreed to a forbearance agreement. September 30th, at 4:30 in the evening, they faxed the agreement to me. The agreement said that I had 5 days to return it to them after I received it. They foreclosed October 1. Do I have a case?
1 Answer from Attorneys
Re: Wrongful Foreclosure
It sounds to me like you may have a case against one or both institutions, depending on what exactly happened. The important thing to do right now is ensure that you have documented everything that has happened. Make sure you have letters, records of phone calls, etc. You should also hire counsel quickly, as an eviction proceeding almost always follows a foreclosure.
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