Contract For Deed
12 months ago I purchased a home on a contract for deed due to the urgency of the seller wanting to complete the transaction with the intention of immediately refinancing with an actual lender. I had the loan approve the following month but then found out the seller had a state lien in the amount of $500,000 that he claimed he had no knowledge of. He said that he would work out a "partial release" with the state to have his equity and we could complete the refinance. I continued to make my payments for 7 months and I had put down $15,000.00 believing the outlandish stories the seller was giving me. I finanly had the title company contact the state and found out the only thing we needed was the partial release but the seller had been refusing to do that and telling the state that he wanted a full release for the 20k in equity he was due. By doing this he was stopping us from proceding on our loan. At that point I stoped sending payments to him and since he has tried to forclose and sent threating letters with no success. Now we find out he was on a contract for deed as well and has disoplved his contract which he states disolves mine and now we have recieved an evection notice from the other owner. As I have now found out, they apperantly do this all the time because in county records they own about 25 properties all on a contract for deed. Basicly they are not allowing me to pay them off, have refused to return any of my money and simply want me out of the home because as they have stated in writing that they want to put the home up for sale again. I have contacted attorneys, but the cost is very high and there must be some laws being broken here. What state agency sould I contact to file a complaint or is there anything I can do. I also just recieved a default letter in the mail from the citimortgage stating that they have not made the payment in 90 days and have 30 to bring it current or foreclosure procedings will begin. Does any one know the best course of action? If any one could contact me with Ideas, thoughts, or anything me email address is **Please See My Profile**
Thank you,
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