Legal Question in Wills and Trusts in Texas
my Dad is heir to this mrtg estate who gave it to me. My Dad basically ignored this will and gave house to me. I resume pymt on note, moved in, fixed it and fell behind 3-4 mos and then to make matters worse did not get bank's demand letr or foreclosure notice until just recently due to someone decided to forward this info to another address, coinsidenlty a relative-who had to physically deliver them to me? Is there anyway to stop this foreclosure on technicality of ownership and bank/attornys' negligent in mailing notice to me directly? I only owe 12k so much to lose for so little. I feel bank is negligent as petition/inquired repeatedly to trnsfr loan in my name or put me on as authorize account holder. Prior to acknowledging this foreclosure the bank return my money order to me stamped April 24 and the demand/foreclsr notice is dted 5/20/2010. What immediate action can i take to save my home?? It is to be sold july 7, 2010. Please someone help me!!
2 Answers from Attorneys
No. The bank is only required to notify the "true borrower" at the last known address - not who is making payments. Your best bet is to get a 12K hard money loan or loan from a relative and bring it current...quick! Time is not on your side. You stand to lose everything.
You have a few problems here. FIrst off, you didn't say you were on title to the house. Second, I'm assuming no one informed the bank that you now have a claim to the house. Third, you're behind on the payments.
If the foreclosure is set for July 7, then you have a little time to work something out on the house. You can communicate with the bank about working something out. Your best bet is to try to get enough money together to throw at the bank in order to stall the foreclosure. Then you can try for a loan modification or refinance.
If the property is still titled to the deceased, then it may be possible to stall the foreclosure, as they would have to notify the estate representative or the heirs (which is rare.)
My questions to you:
1. Who is on title to the house?
2. Was the deceased's will ever probated?
3. Are there any title documents?
Dave
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