Short story - owned 3 properties, loans on all with one lender - lender sold two loans, didn’t inform us about the second sale - we continued to pay (on time) to them - they didn’t transfer monies owed. Ping pong paper trail back and forth for months - they ended up giving our main mortgage payments (primary home) to the new company, lost another payment, have never accounted for the monies they were to send off in the first place and put us in default. Wouldn’t accept anything but full payment on what we already paid, our main home was sold in foreclosure 60 days ago.
Filed complaint with Dep’t of Corporations. Latest news as of Friday, 8/25 - New owner is willing to sell property back to us - at a profit of course and asap - meanwhile, just received (Friday) a letter and a check from the mortgage company that started this mess in the first place - oops, in hindsight, we probably shouldn’t have… yada, yada - here is a check for your foreclosure costs and we’ll clear your credit report. (The Department of Corp hasn’t ruled yet - this was the lender’s response to the complaint - and they didn’t answer all the issues; just the one that got us in this mess to begin with.)
Question - since they’ve admitted they were at fault with the monies (in writing), cleared up the credit and refunded the foreclosure costs - does this mean that the sale could be revoked (invalidated) at this late date? - Trustee’s Sale, in California, 60 days ago. Can’t get to an attorney this weekend and I need to follow up with the new owner no later than Monday morning so any advice would be greatly appreciated. I’m not familiar with CA foreclosure law, though I’m getting a great (sarcastically speaking) hands on course in it over the past several months.