Relham10 LSU Fan On Da Bayou, Louisiana Member since Jan 2013 1135 posts
Real Estate Law advice. (Posted on 2/12/13 at 8:49 pm)
My wife and I purchased our first home 2 years ago and we were just excited to be getting something to call our own that we didn't really research it and we wound up getting into a bad deal. We qualified and purchased a brand new mobile home and land package from a well know company but the monthly notes were too much for us to handle. They said I qualifed for it based off of just my income but i found that to be BS because my monthly income was just a tad bit more than the notes for the home and land.
Anyway early last year, my wife became ill and had to have surgery so we didn't have her income at the time and I had to have emergency surgery a few months later so we wound up falling behind on our payments. We called the finance company many times and tried to explain to them the hard times we were having and to see if they could work with us to get passed this situation but this was the rudest, most cocky company i've ever had to deal with. They said we should have paid them before the doctors and they called relative to tell them they had to pay the money.
We defaulted on the loan because they wouldn't work anything out with us and then evenually foreclosed on us. We made many attempts to contact them to let them know we had people that wanted to buy the home and land from us and they would say we couldn't sell. We had others call to them to ask about buying it and they would tell them they wouldn't sell it or try to sell them another brand new home.
Wifes realative went to the dealer and asked about buying it which, the sales person then proceed to tell her about our business about being behind on the notes and then tried to sell them a new home.
After home foreclosed they then turned around and sold it one of the guys that request us to sell it to him.
To me it seems that this finance company preyed on me and my wife and set us (a young naive upstart couple) to fail on purpose that way they could turn around and make even more money off of our misfortune.
I know this is long but what do you guys think about this and is there something that maybe can be done on our behalf?