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Verbal agreement to buy owner financed, made mortgage pymts-owner filed bankruptcy

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by 1cameron, Nov 13, 2009.

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  1. 1cameron

    1cameron Law Topic Starter New Member

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    I had a verbal agreement to buy (owner financed) the house I was renting and made the mortgage payments on-line for 6 months. Then the owner filed bankruptcy. The house went into foreclosure and was sold at auction to Fannie Mae. I am still living here and was just given a notice to vacate. Do I have any rights to the house since I assumed the mortgage payments?
     
  2. USLoanAuditors

    USLoanAuditors New Member

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    Mortgage transactions need to be put in to contract and notarized. You were paying the mortgage with your rent for as long as you were renting. If you paided it directly it sounds as if you were managing the mortgage. Verbal agreements are hard to fight in court.

    Was there an lease agreement? If so you could fight it in court.

    Kenny

    US Loan Auditors
     
    Last edited: Nov 16, 2009
  3. jharris352

    jharris352 New Member

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    No, you have no title interest to the house.
     

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