Legal Question in Real Estate Law in Virginia

foreclosure action

My mortgage was sold to another loan company in October. My auto payments stopped - I did not discover that my loan had been sold until November. I accessed loan on internet & sent electronic payment 2 times - they bounced it back both times. Then I sent in a cashiers check for the full amount specified on internet statement - they sent it back. I have proof of delivery they received my payment on 12/31 - they put me into foreclosure that same day. My fight with them is that they should have honored my payment as they engaged the attorney the same day and would not have incurred any legal expenses at that point.

Who is right?

They also have stated that the cashiers check was returned because it was not enough to re-instate the loan - the check was for the full amount per internet statement that day. Is this illegal on their part?

Who should pay the legal fees

How do I get this off my credit report

Is this legal? Is internet definitive information?

thanks


Asked on 2/15/05, 3:42 pm

1 Answer from Attorneys
John Sawyer Sawyer & Azarcon, P.C.

Re: foreclosure action

You need to stop the foreclosure or you will lose much of your equity, If the lender made a mistake and will not stop the foreclosure voluntarily, you have two forums: the local circuit court or bankruptcy court to force them to stop.

Circuit Court is many, many times slower and many, many times more costly. Remember that you will not necessarily recover your costs and legal fees, even if you prevail. You need to consult with a local bankruptcy attorney, ASAP.

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Answered on 2/15/05, 5:49 pm


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