Foreclosures Redemption Time Almost Over, Bank Drops A Bomb On Me.
Hello folks, quick question, my mother lost her two houses to foreclosure, she is still in the redemption period, I had the two houses deeded over to me, one of them is 90% fixed up and looking good.
A letter from the lawyer a few months ago stated the homes had been sold for 34,000.00, and if she wanted to redeem them she would have to pay the 34,000.00 plus interest. Well I'm trying to refinance with the same bank that forclosed, they said I qualify fine, but they want 62,000.00 dollars instead of the 34,000.00, sounds like a lot of interest and fees. To make things even stranger,
my mother still gets monthly statements for the two houses, and the one she just got a few days ago, shows the entire balance on both homes only come to 53,000.00. What gives? The bank also wants me to ad two more of my investment houses to the deal, thats 4 houses tied up on the same note. Is what the bank doing legal? Thanks. :-?
is itsomething innocent like 2 houses, 34K ea = ~62K (with prepaid taxes, interest, etc)