Owner - Finance Home did not pay the bank

[Maximiliano Rodriguez]

Case: Bank is foreclosing on property “Normandy”, the property is under “Teresa” owns the loan with the bank. At Normandy lives “Maria” who claims be the owner of the house and who has been paying the house for the last 4 years with no delays to “Teresa” – Owner Finance.

What are options for “Maria” and what documentation should have to prove ownership and save the house?

[Bob Reinhard]

Please pardon my confusion but ... the only way to save the house from foreclosure is to pay the lender that is foreclosing.

[Sergey A. Petrov]

It sounds like Maria has been paying Teresa with the expectation that Teresa would pay the Bank. The Bank says Normandy is delinquent. Normandy needs to make the Bank whole (they don’t care if Maria or Teresa or John or next door neighbor sends the money) and Maria and Teresa have some tough conversations with each other in the immediate future.

[Theresa Harris]

What did the contract say when she agree to buy it through owner financing?  Maria can sue Teresa, Maria can talk to the bank and offer to buy it for the balance remaining on the mortgage (may work out to a better deal if the mortgage is older and has been paid down over the years).

[Brad S.]

Hey, there you go, you got a "real" @Theresa Harris to answer!  :P

And, I agree with her answer!

[Chris Seveney]

@Maximiliano Rodriguez

Maria should get an attorney first and foremost. What type of agreement is Maria on?

Is it a contract for deed?

What does Maria’s contract state ?

If it was me, out of spite I would file civil and criminal charges against the lender for fraud.

Maria cannot talk to the bank because the bank won’t talk to her because she is not on the loan, thus the only recourse is to get an attorney and file legal