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I am being threatened with foreclosure

Date: Thu, 10/07/2010 - 17:38

Submitted by anonymous
on Thu, 10/07/2010 - 17:38

Posts: 202330 Credits: [Donate]

Total Replies: 3


I live in Texas. In 2005 I did a loan with a company, they call themself a mortage company, and they paid our property taxes for 2003 and 2004. I have paid them back $116 a month for five years. They have a tax lien on our home. Because of things done wrong when we refinanced in 2000, I have an attorney who has sued our loan service company. My husband was in the hospital for 28 days this summer, and I am behind on the tax loan. I owe probably $600, but the man has always been good about working with me. However this time he says he needs $300 wired by tomorrow or he will have to start foreclosure proceedings. I asked my attorney, and he just said he would need to read the paperwork from 2005 that I signed. I don't understand how a basic loan company can foreclose when I don't own the house, I don't make the house payment to them, and because we have a home equity loan, if anyone wants to foreclose, they must file a lawsuit against us. This has caused a great deal of stress. The guy emails me wanting money, and obviously, things are very very tight right now. Can he really foreclose for $300? I owe $123,000 on our home. I told him to send copies of all documents to my attorney just to throw something back at him. Can he foreclose while we are in litigation against another party? Please, someone send me some answers!