Bank foreclosed on the property even though homeowners had a buyer

Discussion in 'Media' started by hvactec, Dec 24, 2011.

  1. hvactec
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    hvactec VIP Member

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    Banks did it again. Two residents from Beaumont faced a wrongful foreclosure attempt that targeted their property, even thought they had a buyer. The couple says the amount of money coming from the sale would cover the debts they have on a promissory note.

    The two Beaumont residents victims of wrongful foreclosure are Martin C. Fontenot and Stacie Y. Fontenot. However, they didn’t stand with their hands crossed and filed a lawsuit in Jefferson County District Court against their lender, Tin Inc., entity which does business as Temple-Inland.

    In the lawsuit documents filed December 5, the couple claims the lender is threatening to foreclose on their Beaumont home located at 3911 Tolivar Canal Road, because they fell behind on their monthly payments. The couple used their house a security on the promissory note, the court documents say.

    However, what the Temple-Inland somehow missed to acknowledge is that the couple found a buyer for a parcel of their land, and the sale would cover the amount owed to their lender. Instead, Temple-Inland has cut their communication channels with the Fontenots and gave green light for the foreclosure process, prohibiting the Fontenots to proceed with the sale.

    read more Bank foreclosed on the property even though homeowners had a buyer - Texas Foreclosure Defense Network | Texas Foreclosure Defense Network
     
  2. Mr. H.
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    Mr. H. Diamond Member

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    Unfortunate.
     
    Last edited: Dec 25, 2011

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