okay me and my husband gave $3,000 to this real estate company to help us find a home due to our bad credit. they showed up a home for $185,000 and we took it. as a part of our contract we had to let them take the mortgage payment out of my account and get insurance on the house which they would also take out of my account. we it turns out that the house is only valued at $150,000 and the true home owners are already paying the house insurance. now the home owners are sueing the company to get there house back for non payment which would mean that my money wasn't going toward house payments. can i sue to get everything back or am i screwed? please if you can help me out with what steps i should take them i would be very thankful. serious question so please serious answers
2007-02-07 05:15:55 · 5 answers · asked by desiree60411 2 in Business & Finance ➔ Renting & Real Estate
Lady I think you have been scammed by some people dealing in real estate fraud.
This happens all the time, it is that it will or should never happen to me.
I think the most you can hope for is that these individuals will be eventually arrested for the crime and fraud they put you and your husband through.
You may sue them in civil court and if I was you I would try to get the true homeowners to go in with me as both of you were scammed, though they might think you were in on the scam.
You should file a complaint with the local police department, so they can be arrested and investigated.
Did you get a mortgage on the house, which is normally what they do. The promise the sellers they will get a certain amount of money. After the loan closes they take all the funds and disappear in this case it would have been over $35,000 between what they purchased the house for and what they claim they sold it to you for, as well as any up front money they could get out of you and the sellers.
In the real estate field you really have to be careful about who you are doing business with as there are lots of scammers out there with the knowledge and know how to lure you into their trap and appear to be on the up & up.
I am sorry for your misfortune and I don't know what story they told you, but if something is too good to be true, guess what it normally is not true.
Find you a mortgage broker by looking in your local telephone book to get pre-approved for a loan so you will know how much house you are qualified to purchase and loan programs you are qualified for.
This mortgage brokerwill run a credit check after completing a loan application, take a deep breath and have a seat filing this application will take awhile.
Have the following available for the mortgage broker
#1 Two years of federal income tax and W-2 for the same 2 years
#2 One month of pay stubs for you and you husband.
#3 Six months bank statements for each bank you and your husband use and yes even that secret one you have hidden. You will also need any 401-K statements from both you and your husbands jobs.
Once you a pre-approved get a referral from this mortgage broker for a real estate agent
The mortgage broker will walk you throw the final steps once you have found a property to buy with the help of this real estate agent he has recommended.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-02-07 09:32:00 · answer #1 · answered by Skip 6 · 0⤊ 0⤋
HELL YEAH!!!!!!!! someone has taken your money I don't know about you but I work hard for mines and I be damn if someone is going to take it.
Now I'm assuming that everything you gave to that company has back up right? I mean contracts, I mean receipts, I mean statements that show money coming out of your account going to them? Legal system is all about what you can prove and if you have thing in writing than you can the prove. Now before you go to a lawyer talk to someone in your city or agency that controls fraud in real estate, because lawyer could cost you an arm and a leg. Since the owners of the house got problem with the company you dealing with as well I would suggest work together as a team, the more the marier.
Good luck LUV and rebuilt that cred it score ;-)
2007-02-07 05:23:32 · answer #2 · answered by heylover76 2 · 1⤊ 0⤋
Contact an attorney immediately ! ! Don't wait.
Also, contact your state's Department of Regulation and Licensing tofile a complaint about the Real Estate Company, agent, and lender(if they were involved with this). Make sure you have any and ALL paperwork you were supplied with by them, and documentation of how much and when they "took" the money from your acct. They should have clearly stated where the money was going and what it was paying. also, it should state somewhere in your offer on the home that the offer and closing is contingent on acceptable title and approval of your loan, and no lender i know would approve a loan on a home that does not appraise for the offer price.
For future reference - try to avoid letting anyone "debit" your direct acct. Always write a check, or get a certified bank check or money order. and make a copy of it for instances like these before handing it to whomever is requesting it. Remember for court cases they always want PROOF.
2007-02-07 05:39:20 · answer #3 · answered by shenrich03 1 · 0⤊ 0⤋
The problem when you sue someone is sometimes it doesn' t really matter because they don't have the money to pay you anyway. You have the judgment against them and that does go against their credit if it makes you feel any better. You should find out if there is a way to garnish their wages until this debt is paid to you.
2016-03-15 08:52:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I would get an attorney and contact the Attorney Generals office in the state you live in. They like to go after people that defraud their voters.
I agree with Gokus www.clarkhoward.com call into his radio show also.
2007-02-07 05:25:49 · answer #5 · answered by Luchador 4 · 0⤊ 0⤋
Go to www.clarkhoward.com they can help you on this sight. You may also call for assistance. www.nolo.com is also a good sight. Make sure to consult an attorney.
2007-02-07 05:24:51 · answer #6 · answered by 14 4 · 1⤊ 0⤋