Law Forum,
I have what I believe is a dilema and need some serious guidance on what actions I need to take.
Last August, my wife and I filed Chapter 7 Bankruptcy due to my unemployment (she's a stay at home mother - 12 years) and financial hardship; I have been laid off since November 2008.
In the bankruptcy filing, we included our home in Texas, which was being managed by a real estate investor with the intent of his selling to make a profit. Well, part of our contractual agreement was that as our representative with limited power of attorney, he was to make all decisions regarding the property. In addition, contractually, he is/was responsible for INSURING that all mortgage payments on the house were made in a timely manner so as not to negatively affect our credit which HE DID NOT FULFILL, on several occasions, even before our bankruptcy filing.
As a matter of professionalism, I informed him of our intent to file bankruptcy and he commented that he'd dealt with that before and there was no issue. However, he has since moved his business in Dallas, not informed the mortgage company, and has not paid the mortgage in the last three months. The other issue is that the current residents contacted my wife and I to find out what was going on only to learn that the more than $1500.00 per month they have been paying him has not been used to pay the mortgage as it should be.
Closing, I have two questions.
1) Since he has not fulfilled his responsibilities in the contract regarding the timely payment of the mortgage, and since we filed bankruptcy, is the contract we signed with him null and void thereby freeing us to sell the home for mortgage balance and salvage some of our credit?
2) Ethically, do I report this guy to the FBI or other local/state/federal authorities for potentially fraudulent and illegal activity associated with this matter? (I have learned that we are not the only ones who have been affected by this dishonest man.)
I would sincerely appreciate any guidance on what my next step, if any should be in this matter.
Humbly concerned,
meche94
I have what I believe is a dilema and need some serious guidance on what actions I need to take.
Last August, my wife and I filed Chapter 7 Bankruptcy due to my unemployment (she's a stay at home mother - 12 years) and financial hardship; I have been laid off since November 2008.
In the bankruptcy filing, we included our home in Texas, which was being managed by a real estate investor with the intent of his selling to make a profit. Well, part of our contractual agreement was that as our representative with limited power of attorney, he was to make all decisions regarding the property. In addition, contractually, he is/was responsible for INSURING that all mortgage payments on the house were made in a timely manner so as not to negatively affect our credit which HE DID NOT FULFILL, on several occasions, even before our bankruptcy filing.
As a matter of professionalism, I informed him of our intent to file bankruptcy and he commented that he'd dealt with that before and there was no issue. However, he has since moved his business in Dallas, not informed the mortgage company, and has not paid the mortgage in the last three months. The other issue is that the current residents contacted my wife and I to find out what was going on only to learn that the more than $1500.00 per month they have been paying him has not been used to pay the mortgage as it should be.
Closing, I have two questions.
1) Since he has not fulfilled his responsibilities in the contract regarding the timely payment of the mortgage, and since we filed bankruptcy, is the contract we signed with him null and void thereby freeing us to sell the home for mortgage balance and salvage some of our credit?
2) Ethically, do I report this guy to the FBI or other local/state/federal authorities for potentially fraudulent and illegal activity associated with this matter? (I have learned that we are not the only ones who have been affected by this dishonest man.)
I would sincerely appreciate any guidance on what my next step, if any should be in this matter.
Humbly concerned,
meche94
