What is the name of your state? MARYLAND
Our son's house was sold at a foreclosure sale in August; the sale was finally ratified November 15th. My son has moved all of his belongings out of the house. Before he was completely moved out, the new buyer stopped by and told him that he had already had settlement and had been to court to get a Writ of Possession but would not have it served if my son would turn over the keys as soon as he had his remaining things out of the house (which was the next day) and would give him $100 when he turned over the keys. He said that the lawyers were aware that the excess money from settlement was due to be paid to my son, but mentioned something about the lawyers checking on any "outstanding liens" before sending it to him.
I think that the lawyers are trying to pull a fast one on my son. Outstanding liens, etc., are checked out and verified BEFORE settlement occurs and I would think should have been included in the paperwork filed with the Court before ratification of the sale and before it went to the auditors. The foreclosure sale notice said settlement had to be within 10 days of ratification (Nov. 15), which would have meant that settlement had to occur before Nov. 25th. It has always been my understanding (and that of my brother, who was a bank lending officer) that all dispersements take place at settlement. If that is the case, why hasn't my son received his portion of the settlement? He has been to the trustees' office and given them his new address and has changed his address with the post office.
They told him that it could take 2-3 months to get his money to him. I think that this is BALONEY! What is his course of action? Should he contact a lawyer to look into it?
The online land records are still showing the property in my son's name.
Thank you for any help you can give us.
Our son's house was sold at a foreclosure sale in August; the sale was finally ratified November 15th. My son has moved all of his belongings out of the house. Before he was completely moved out, the new buyer stopped by and told him that he had already had settlement and had been to court to get a Writ of Possession but would not have it served if my son would turn over the keys as soon as he had his remaining things out of the house (which was the next day) and would give him $100 when he turned over the keys. He said that the lawyers were aware that the excess money from settlement was due to be paid to my son, but mentioned something about the lawyers checking on any "outstanding liens" before sending it to him.
I think that the lawyers are trying to pull a fast one on my son. Outstanding liens, etc., are checked out and verified BEFORE settlement occurs and I would think should have been included in the paperwork filed with the Court before ratification of the sale and before it went to the auditors. The foreclosure sale notice said settlement had to be within 10 days of ratification (Nov. 15), which would have meant that settlement had to occur before Nov. 25th. It has always been my understanding (and that of my brother, who was a bank lending officer) that all dispersements take place at settlement. If that is the case, why hasn't my son received his portion of the settlement? He has been to the trustees' office and given them his new address and has changed his address with the post office.
They told him that it could take 2-3 months to get his money to him. I think that this is BALONEY! What is his course of action? Should he contact a lawyer to look into it?
The online land records are still showing the property in my son's name.
Thank you for any help you can give us.
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