Mortgage Payoff Foreclosure Delay

Summary

Mortgage companies in California must follow specific procedures for foreclosure, including providing accurate payoff statements. If an error in the payoff statement causes a delay, the lender may be responsible for postponing the auction. Consulting a real estate attorney is advisable to ensure your rights are protected.

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I’m in the process of paying off a mortgage that was scheduled for a judicial foreclosure auction. The auction was set for February *, *. The new mortgage people are in the process of completing the new title for my signature. They have the funds to wire to the old one. I received an email that they saying that the previous pay off statement was incorrect and considerate null void. The new one looks the same after I reviewed it. I forwarded it to the new people. Hopefully it won’t put a wrench in the works. Is the old mortgage company culpable and would need to push out the auction date if it causes a problem
Hi ****, I understand your concern. Could you please provide me with your location so I could provide more specific information regarding your situation?
California
Hi ****, here's some general information:
• Mortgage companies in California are required to follow certain procedures in case of a foreclosure, including providing proper notice.
• If the error is on their part, they might be responsible for delaying the foreclosure.
• You should consult with a local real estate attorney for advice specific to your situation.
I was given proper notice so that’s not the issue. The issue is they have been approached and are in the process of paying off the loan to stop the foreclosure auction. They sent an incorrect payoff statement on January *. And sent a new one tonight at * PM. Since have sent incorrect information to payoff initially. If it causes a delay, can they be forced to postpone the auction
In California, the lender must correct errors in payoff statements. If their error causes a delay, it may be possible to postpone the auction. However, it's crucial to discuss this with a real estate attorney.
I don’t think they’ll be a problem. The company I’m working for works with distressed properties and probably know how to handle this. I haven’t signed the new paperwork yet, so it just a matter of them tweaking information. Hopefully.
That sounds like a plan, ****. Yet, it's essential to have a legal expert review the paperwork. Remember, if lender's mistake causes a delay, you may have the right to request a postponement. Good luck with your situation!
Ok. Thank you.
You're welcome, ****! If you have further questions or need more information in the future, feel free to contact us. Good luck with your mortgage situation!
r tyler
Hi Tyler! How can I assist you with your legal issue today?
I had a verbal agreement with my employer to allow me to move out of state and continue working remotely from home as i had been for 6 years. Jan * * they had a new policy that everyone had to work at office 4 days a week. the guys working from out of state are exempt from this rule. they changed their mind and now will not let me reach the remote arrangement. we had a verbal deal for * or * yearsw and now i can execute it and they have broke their end of the deal. we had a verbal agreement- this is like a contract under the color of law right? its not just a backroom agreement with me and one other supervisor. my supervisor acted as my advocate toward his supervisor, and even his supervisors predecessor. I had a deal with them both. do i have a case?
Here's some information that might be helpful regarding verbal agreements in Indiana:
- Verbal agreements can be legally binding, but proving them can be challenging.
- Employment contracts typically require clear terms and conditions.
- Exceptions and exemptions in policies must be documented.
Since your situation involves a verbal agreement and policy changes, it might be beneficial to consult an employment lawyer. Would you like assistance in connecting with a local lawyer to discuss your case further?
no that was about as canned as it gets
Hey Tyler, I get it. Employment issues can be tricky, especially with verbal agreements. In Indiana, verbal agreements can be binding, but proving them is challenging without documentation. You may have a case if you can show consistent conduct supporting the agreement. If you want to explore this further or need more insight, feel free to ask!