Legal Question in Real Estate Law in Indiana
Bad Real Estate Deal
I purchased 5 properties in Indianapolis Indiana which turned out to be overappraised. I learned after having an assessment done that I am upside down on those properties. Long story short: A company sold me the properties, brokered the loans for them, had their appraiser appraise the homes and managed the homes which they could not get tenants for. After my inference to them that I thought I was a victim of fraud, the company bought back the properties on contract at which time I quit claim deeded them back to the company. The properties are now in foreclosure. Problem: I never knew this because I didn't get any notices from the mortgage company. The Ward company changed my address and had the mortgage company send all correspondences to them. I only learned after obtaining my credit report. What type of legal standing do I have?
2 Answers from Attorneys
Re: Bad Real Estate Deal
I have a potential client with almost the exact scenerio. I would like to speak to you. As far as your situation, I'm not sure what you can do. You needed representation to get out of the deals and off the mortgages-- they "defrauded" you into thinking a quit claim deed would do it. I'd be happy to talk to you about any recourse. Of course, your credit is surely destroyed.
Re: Bad Real Estate Deal
If you are asking whether you can sue Ward Company, it appears that you can. If you are asking whether you can prevent the foreclosures, there is that possiblity since you may not have received legal notice. Cont act an attorney as soon as you can. I have read Ms. Hoeller's response and profile and she ceertainly seems qualified.
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