Posted by Rich-CA on November 23, 2008 at 08:20:11:
I assume you got a loan for the house and the lender required insurance. If you have homeowners insurance, contact them and file a claim. Most policies cover emergency housing and I have found insurance adjusters very helpful in getting info and referrals. They may also make suggestions as to who else you can contact.
The “AS IS” clasue - Posted by Amber-Leigh Decker
Posted by Amber-Leigh Decker on November 18, 2008 at 19:18:52:
Can a house be sold under false pretenses (stating everything is new, only cosmectic damages), in writing, without consiquenses if the buyer was tricked into a "as IS’ clause? Are there ANY leagal actions that can be taken? OR does the “as is” clause make everyone but the buyer safe whn the house false in?
Depends - Posted by Rich-CA
Posted by Rich-CA on November 18, 2008 at 22:02:06:
One of the hardest things to prove is what somebody else actually knew in the time frame specified. Documentation of what you found is very important. You will also need to look at your state’s mandatory disclosures.
All transactions are “as is” once the inspection period is signed off. BUT, there is “as is” and there is “as is”. Many states have laws protecting consumers, fraud statutes, and so on. This is lawyer time.
Re: Depends - Posted by Amber-Leigh Decker
Posted by Amber-Leigh Decker on November 19, 2008 at 08:08:41:
We have contacted a public laywer and they said they don’t know if we CAN do anything. However, we contacted the attorny General of Ohio and HE said we definately have a case, but need a real estate litigation attorny. Which there are known in our area. How do we find out what the mandatory disclosures are? We were told just this morning that the people who let this house go into forclosure left Because the house was falling in and that the TOLD FAnnie Mae that.
Fannie Mae was the seller? - Posted by Rich-CA
Posted by Rich-CA on November 19, 2008 at 10:37:23:
Or was the seller those being foreclosed on? It matters. As a rule, Federal agencies (which Fannie Mae was not and is now) are exempt from state disclosure requirements. So if its Fannie Mae, you are likely to spend a lot on attorneys fees and get little back (and the Fed does not pay attorneys fees when they lose).
If its the foreclosee, then its hard to say. if they have no assets, then a lawsuit is a waste of money. So that leaves the Attorney General. If you can find a prosecutor and can make a case for fraud, then you will not have to spend the money on a civil suit.
The odds of you recovering anything from people who slid into foreclosure is very unlikely. In which case an attorney will want you to pay them up front for the work they do.
Re: Fannie Mae was the seller? - Posted by Amber-Leigh Decker
Posted by Amber-Leigh Decker on November 19, 2008 at 12:23:50:
Fannie Mae was the seller of record. They had the property for two years before we got it. Does that mean there is nothing we can do?
You can always ask - Posted by Rich-CA
Posted by Rich-CA on November 19, 2008 at 16:35:28:
My experience with Fannie Mae (I had a property under contract with them) is that they did try and make sure it was move in ready before closing but on other issues, like lien releases, they were slower than a glacier. In my case their slowness caused the lender to pull out and the deal died. They agreed to pay for the appraisal and inspection, but never did it.
They dump a lot of the responsibility on the RE agent they use to prepare the property and sell it. You may want to ask your agent to get the Fannie Mae contact info so you can ask them about it. It doesn’t hurt and its a LOT cheaper on rolling the dice with an attorney.
Re: You can always ask - Posted by Amber-Leigh Decker
Posted by Amber-Leigh Decker on November 23, 2008 at 04:37:44:
Thank you sir!!! We will definately put another call into our agent. Maybe Fannie Mae can at least put us in emergency housing. Our situation has grown worse. WE have all our children with different family members and our safe but now we are in a race against time to get our things out. In one week the walls and ceilings are starting to come down from it continueing to shift. Is it leagal to ask them for emergency housing since they sold the house in this condition? Think there is any hope we can all be together again for at least Christmas, I know Thanksgiving is out of the question. Our children are really stressing and we can find none thus far in the area.
God Bless You for your advice. You have already been a GREAT help in guiding us in where to call next! I truly pray the good Lord blesses you ABUNDANTLY for your kindness!