Mortgage company sent funds back and foreclosed
Hello all,
I have a crazy situation and wanted to see if anyone else has dealt with this. We bought a house and closing docs were signed off on the Friday prior to Labor Day. The deal funded by noon on the Tuesday since Monday was the holiday and the funding department was backed up.
The deal closed, funded, but apparently the mortgage company sent the funds back and said they foreclosed on it. I've never dealt with this before in 14 years.
What can we do? Thanks in advance.
Manesh
Most Popular Reply
@Manesh Hardeo As Mike said, lots of missing information. You and the title company are probably lucky that it ended this way with your money returned to you and no loss. However, whoever represented the seller should have let you know what was going on and that there was a pending foreclosure sale. Maybe the seller didn't disclose what was going on or maybe was no longer even the owner when he tried to sell. it would be interesting to know the details....