HELP HELP HELP ME PLEASE!!!

33 Replies

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Originally posted by @Shaun J. :

Have you talked to your Lender to see what your options are? I was thinking quit claim and they release you from the loan with no impact on your credit? 

hard money loans don't report to fico no impact.. other than if fico picks up the NOD which has already happened so this is not a credit protection situation.

the lender will want to do a DIL not a quit claim  Deed in Lui of foreclosure they will want to verify there are no junior liens that they would be taking title to.

at this stage this sounds like a walk away and hope they don't sue you.. if you have no job and no other assets your judgement proof anyway.

New western and networth are in my mind to be avoided at all costs.. as your seeing..  I had a client in Texas have the same experience he trusted them  they puff the heck out of value and low ball rehab to get the deals to close so they make their fee and your stuck holding the bag.. that's what I saw

I have a PT job. I have to sell my car now to afford to stay in my apartment. My only concern is being sued. I keep receiving notices from an attorney in Dallas, TX. saying they are going to sell the property at auction. I don't know if I can file BK to protect myself and any possible judgments to my part time employer. Also, I don't know if anyone will trust me since this happened and help me get into the game the right way. 

Any advice?

Thank you to everyone that has given me advice on this situation. I will make sure I do not deal with acquisition companies ever again. Someone from New Western called me and stated he was going to try to get this resolved but nothing has come from that. I just received another notice from Red Doors lawyer. So I guess I am just *** out on this. Huge lesson to learn. Out $53k because of an A-Hole contractor (that isn't an actual contractor). Just beware of this guy in San Antonio. He is being sued and the city is filing against him. 

@Kevin S Porter Sr

The notices you are receiving most likely are the required notices to begin the foreclosure process in Texas

In Texas your wages cannot be garnished nor can any judgement attached to your personal residence or a long list of exempt property 

I would contact the Attorney and offer to do a Deed in Lieu if Foreclosure in return for an agreement not to pursue a judgment 

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