Forclosure /Unfair Title settlement

[tascott]

What is the name of your state? IN. I've been given the run around for too long by my title company... It's been over a year now when they told me they were going to work with the mortgage company on my claim. REASON: The title company didn't go back the previous title to see there were gas tanks under my property leaking. I contacted the mortgage company about not being able to sell my home because of the underground contamination and $0.00 marketability. I told them I was a single mother of two children and had lost my job of 7 years and I couldn't continue to make monthly payments on a home I can't even sell. If I could of sold my home then, I would have had $20,000 to pay off any debts and started over. They tried to forclose, but for some reason, it was stopped. I owed 26,000 at the time and had a 48,000 policy, (and had put on a new roof, furnace, etc. within 2 years.) My title policy states that they would pay for my "legal council" fees to help settle any marketable title issues that were not seen by the title search. They emailed me saying they were seeking someone in my area to help me with this. A couple days later, they emailed me to tell me I needed to hire my own attorney to represent me in this case and had already hired another attorney for them. They have avoided a fair settlement and have been dragging their feet hoping the contamination is low enough to make the home marketable. Out of the blue, I get another FORCLOSURE sale statement for June 10th. The title company's new offer is they pay me $2000.00 and will take title to my home as long as I sign over my rights of any claims with them and all 3rd party claims. OR.. They will pay me $5,000 and I keep the home and owe the mortgage co. 38,000. instead of 26K and give up house to the title company. I owe more than 5000.00 in lawyer fees just from consultations, etc. Why can't this company be sued for Negligence? I paid them for a title search for me and my lender, but they didn't even look back one title, or deed? Any ideas on how I can get this done for good instead of being told "It's being taken care of"? Sorry so long, but this is a never ending story.....

 

[Rhubarb297]

What is the name of your state? IN. I've been given the run around for too long by my title company... It's been over a year now when they told me they were going to work with the mortgage company on my claim. REASON: The title company didn't go back the previous title to see there were gas tanks under my property leaking. I contacted the mortgage company about not being able to sell my home because of the underground contamination and $0.00 marketability. I told them I was a single mother of two children and had lost my job of 7 years and I couldn't continue to make monthly payments on a home I can't even sell. If I could of sold my home then, I would have had $20,000 to pay off any debts and started over. They tried to forclose, but for some reason, it was stopped. I owed 26,000 at the time and had a 48,000 policy, (and had put on a new roof, furnace, etc. within 2 years.) My title policy states that they would pay for my "legal council" fees to help settle any marketable title issues that were not seen by the title search. They emailed me saying they were seeking someone in my area to help me with this. A couple days later, they emailed me to tell me I needed to hire my own attorney to represent me in this case and had already hired another attorney for them. They have avoided a fair settlement and have been dragging their feet hoping the contamination is low enough to make the home marketable. Out of the blue, I get another FORCLOSURE sale statement for June 10th. The title company's new offer is they pay me $2000.00 and will take title to my home as long as I sign over my rights of any claims with them and all 3rd party claims. OR.. They will pay me $5,000 and I keep the home and owe the mortgage co. 38,000. instead of 26K and give up house to the title company. I owe more than 5000.00 in lawyer fees just from consultations, etc. Why can't this company be sued for Negligence? I paid them for a title search for me and my lender, but they didn't even look back one title, or deed? Any ideas on how I can get this done for good instead of being told "It's being taken care of"? Sorry so long, but this is a never ending story.....

I'm not sure what you're saying. The deeds in the chain of title would be very,very unlikely to include a reference about gas tanks on the property leaking. Was there some legal action of some sort about the tanks involving the previous owner that the title company missed? Maybe some type of environmental action against the property owner. Absent any type of public record about the leaking tanks on the property that was discoverable during abstracting and that they missed, I'm not sure the title company would be on the hook.

 

[bstacy1]

Not sure about the laws in your state but if the previous owner knew about the leaky tanks and did not disclose this to you when you bought you may have a case against them.

 

[tascott]

The personal rep. of the estate was fully aware of the gas tanks on my property as well as the roof that leaked so she had someone try to tar it good enough to make it through until we closed. Unfortunately, she passed away before I could do anything about the roof and her lies on the disclosure. As far as the title company goes, if they would have looked at the previous owner's deed recorded at our county courthouse, it states, "Subject to right of vendor to come upon, service, maintain or remove underground storage tanks." I also have the inspection and survey report that states there are no signs of any previous or old gas stations anywhere around the home that would cause any loss of property value, etc. It also is marked that there are no UST's or any hazardous material on or around the property. On the side of the house there was a little slab of cement with 3 round steel covers that had one on the garages property, one right on the property line, and the other on my property. The middle cover was right on the property line half and half . I remember being told that these were old water meters of some sort. I was young and this was my first time buying a home. (Young and Stupid) I guess. I also looked up the garage's deed and it had signed documents of the guy that purchased it really cheap due to the UST's that they were to be removed in 1994. That was a year before I purchased my home. These papers were from IDEM and recorded at the courthouse as well.

 

[nightrome2004]

Not sure of all the particulars involved in your state, but sounds like you have a good case, my advise would be to seek government help, they have many legal agencies that give free legal advise and direct you in the directions you would have to take. Sounds like the lawyer and title company aren't doing much of anything. Seek govenment help asap.

 

[tascott]

Please help me if it's not already too late....

Can someone tell me the best site on the internet or the best resource in any library to find the stat's of lim. in Indiana? I would also like to find out how a mortgage provider can try to forclose and then stop it because they don't want any problems with the contaminated property, but triple my mortgage debt from what I actually owed....Why didn't the forclosure sale go through 3 years ago? I would have been happy. I told them they could have the property back at the time but they wanted no part and kept stopping the forclosure in hopes that the underground tanks leaking in our yard would wash away after a couple of years. Now me and my kids have no home and the house we were told we had to move from in June 05, is sitting empty and being vandalized. How long do you have to file suit for the people or company responsible for damages? Any help is greatly appreciated......

Tracy