All Forum Posts by: Scott Kirkpatrick

A friend of mine came to me for some unprofessional [not paid] advice recently. I'm doing what I can to help her out. Still, I'm pretty new at this stuff. While researching her situation I came across BP. Read a few threads; signed up. Great stuff in here!

So. Her Situation is as follows: 4 years ago she "bought" a house on land contract from a seller that had an existing mortgage with a bank. She met with the Seller, a friend of the seller's, her boyfriend, and a lawyer. The lawyer was paid by the seller, to write a land contract. This lawyer later says that she wasn't representing the seller, she was only paid a fee to write a contract.

Regardless, my friend, call her Meg, had no representation. No Agent, no Attorney, no accomplished family or friends. Just her boyfriend, Dave. I've glanced over the contract but I'm not an attorney. I believe It was done at our only local Title Co. and they require title ins. Most of what I can see is protection for the seller though, and some for the bank but NONE for the buyer. Our board of Realtors® uses standardized forms though and this was more like something typed up on WORD.

Meg has not only made every payment on time. She has done extensive renovations. Totaling approx. $80,000. A few months ago she starts getting urgent mail from Wells Fargo, addressed to the Seller. She received mail for the seller frequently and always just sent it back. Initially, so he just sent those urgent letters back too. After awhile though; they got to her. She started making phone calls and inquiries.

Meg finds out the bank is foreclosing on the Seller.

I've read a lot of stuff on here dealing with Due on Sale (DOS) clause. But it seems to mostly deal with seller issues and banks getting property back. What about the $80 Grand? and Shouldn't W-F have noticed something? Remember, all the notices are still coming to the subject to and are addressed to the Seller. Does the bank even know?

Meg tells me she has called several local attorneys and nobody wants her case. I don't know why. She has called everybody and nobody will talk to her about the foreclosure because to them she doesn't really matter. The bank just wants the property back or money from their mortgagor.

Could really use some help on this one guys.

A friend of mine came to me for some unprofessional [not paid] advice recently. I'm doing what I can to help her out. Still, I'm pretty new at this stuff. While researching her situation I came across BP. Read a few threads; signed up. Great stuff in here!

So. Her Situation is as follows: 4 years ago she "bought" a house on land contract from a seller that had an existing mortgage with a bank. She met with the Seller, a friend of the seller's, her boyfriend, and a lawyer. The lawyer was paid by the seller, to write a land contract. This lawyer later says that she wasn't representing the seller, she was only paid a fee to write a contract.

Regardless, my friend, call her Meg, had no representation. No Agent, no Attorney, no accomplished family or friends. Just her boyfriend, Dave. I've glanced over the contract but I'm not an attorney. I believe It was done at our only local Title Co. and they require title ins. Most of what I can see is protection for the seller though, and some for the bank but NONE for the buyer. Our board of Realtors® uses standardized forms though and this was more like something typed up on WORD.

Meg has not only made every payment on time. She has done extensive renovations. Totaling approx. $80,000. A few months ago she starts getting urgent mail from Wells Fargo, addressed to the Seller. She received mail for the seller frequently and always just sent it back. Initially, so he just sent those urgent letters back too. After awhile though; they got to her. She started making phone calls and inquiries.

Meg finds out the bank is foreclosing on the Seller.

I've read a lot of stuff on here dealing with Due on Sale (DOS) clause. But it seems to mostly deal with seller issues and banks getting property back. What about the $80 Grand? and Shouldn't W-F have noticed something? Remember, all the notices are still coming to the subject to and are addressed to the Seller. Does the bank even know?

Meg tells me she has called several local attorneys and nobody wants her case. I don't know why. She has called everybody and nobody will talk to her about the foreclosure because to them she doesn't really matter. The bank just wants the property back or money from their mortgagor.

Could really use some help on this one guys.