fbowiecounty
Junior Member
What is the name of your state? TEXAS
For those of you out there that honestly believe people and life in general is the same no matter where you go...YOU HAVE NOT LIVED IN BOWIE COUNTY!
Our home was set to sell at public auction yesterday. It was financed on a 3 year balloon note. When the note came due the bank informed us that they would be unable to refinance us and we would have to get it financed elsewhere. We only owed $20,000, the house appraises around $55,000 to $60,000, but since we bought the house really cheap and the original mortgage was $29,000 and it appraised for less than $70,000 we were unable to get it financed! As a last resort to buy us some time, we filed Chapter 13 and placed a for sale sign out front. Because of the bank our Chapter 13 payment was set so high there was absolutely no way we could afford it so the house entered foreclosure. We did find someone to buy our house but they had alot of trouble getting in touch with or getting needed information from the bank who had our mortgage. They finally got everything they needed two weeks before the house was set for public auction. Their bank called and asked if the amount was what we had agreed on, I told them no, but that I was under the immpression they were paying the rest out of their pocket so if that was the amount they were boring from the bank than that was fine, we would be there to sign the papers. The lady said she would talk to them and call me the following day. She ended up calling the potential buyers and telling them that we backed out because the amount was not what we had agreed on. I explained to the buyer this was not true and we wanted to sell them our home and were ready to sign papers. She said our banker was not available when they came to town to take care of it and she would call them. There is even a commitment letter at the title company! I explained this to our bank before the auction yesterday, but she said it was still taking place at 1:00. I was at the court house at 1:00, camcorder in hand, to tape the proceedings. Not only was our home not auctioned with the others, it was not posted on the board either! I called the bank this morning and spoke with the loan officer, she said our home was sold at the auction yesterday. I told her I was there and it was not, nor was it posted! She acted like I must have been at the wrong location at the court house or late and missed it. I was there from the time the auctioneer arrived until the time he left! I asked her if they would have sold it privately prior to the auction and she said no. A friend told me they do that alot around here! I did see who I believe was the attorney and the executor at the court house yesterday. They never came over where the public auction was held, but two men, one of which was a man that came by to look at the house before, were looking at papers with them then they all left right after the auction started. I told her that I had taped the proceedings and she said I would have to call the banks attorney who was present yesterday. I asked how much it sold for and she said I would have to get that information from the attorney. Almost every property auctioned yesterday was from this bank. There is no telling how many homes they take from people each month! I have two young sons, can't find a rent house, and I'm pretty sure this will make it impossible for us to get financing to buy another home! Any suggestions?
For those of you out there that honestly believe people and life in general is the same no matter where you go...YOU HAVE NOT LIVED IN BOWIE COUNTY!
Our home was set to sell at public auction yesterday. It was financed on a 3 year balloon note. When the note came due the bank informed us that they would be unable to refinance us and we would have to get it financed elsewhere. We only owed $20,000, the house appraises around $55,000 to $60,000, but since we bought the house really cheap and the original mortgage was $29,000 and it appraised for less than $70,000 we were unable to get it financed! As a last resort to buy us some time, we filed Chapter 13 and placed a for sale sign out front. Because of the bank our Chapter 13 payment was set so high there was absolutely no way we could afford it so the house entered foreclosure. We did find someone to buy our house but they had alot of trouble getting in touch with or getting needed information from the bank who had our mortgage. They finally got everything they needed two weeks before the house was set for public auction. Their bank called and asked if the amount was what we had agreed on, I told them no, but that I was under the immpression they were paying the rest out of their pocket so if that was the amount they were boring from the bank than that was fine, we would be there to sign the papers. The lady said she would talk to them and call me the following day. She ended up calling the potential buyers and telling them that we backed out because the amount was not what we had agreed on. I explained to the buyer this was not true and we wanted to sell them our home and were ready to sign papers. She said our banker was not available when they came to town to take care of it and she would call them. There is even a commitment letter at the title company! I explained this to our bank before the auction yesterday, but she said it was still taking place at 1:00. I was at the court house at 1:00, camcorder in hand, to tape the proceedings. Not only was our home not auctioned with the others, it was not posted on the board either! I called the bank this morning and spoke with the loan officer, she said our home was sold at the auction yesterday. I told her I was there and it was not, nor was it posted! She acted like I must have been at the wrong location at the court house or late and missed it. I was there from the time the auctioneer arrived until the time he left! I asked her if they would have sold it privately prior to the auction and she said no. A friend told me they do that alot around here! I did see who I believe was the attorney and the executor at the court house yesterday. They never came over where the public auction was held, but two men, one of which was a man that came by to look at the house before, were looking at papers with them then they all left right after the auction started. I told her that I had taped the proceedings and she said I would have to call the banks attorney who was present yesterday. I asked how much it sold for and she said I would have to get that information from the attorney. Almost every property auctioned yesterday was from this bank. There is no telling how many homes they take from people each month! I have two young sons, can't find a rent house, and I'm pretty sure this will make it impossible for us to get financing to buy another home! Any suggestions?