This is a re-post of what Doug posted on his Facebook page. This evening I conducted a legal search on the companies involved in the sale of a home to C. J. In searching on PACER, I learned the company was still in bankruptcy, and a party involved had appealed the bankruptcy and filed a civil lawsuit against the company just a few days ago. Therefore, C. J. canceled the loan with the lender because the seller of the property is in bankruptcy. The company may not deliver the home nor the services because they are afforded bankruptcy protection pursuant to federal bankruptcy statutes. The seller could take borrowed money under C. J.s name and stiff him, or--- we move into the manufactured home, and some time down the line the manufacture of the manufactured home comes and repossesses the home kicking us out to the curb. The main thing is: We found out now before it was too late. Also, I learned of the bankruptcy and appeal and civil litigation before C. J. got stiffed and lost any money. In this day and age, one has to conduct an extensive legal search on any property in order to make certain it is free and clear of problems/discrepancies/litigation. Even the escrow company could have been stiffed on this transaction due to the delay of it showing up on the court docket. A delay exists from the time documents are filed and from the time they are input and show up on a database. * * * * * We will not give up searching for a home. We have learned a lot within the last two weeks. C. J. learned he could secure a decent loan to purchase a real home, and not a manufactured home, in the San Diego area if he waits unit past June 2014. After that, he will be able to borrow a much larger amount and be able to afford the larger payments and be able to get what he desires. In the meantime, we will look for an apartment to rent in the San Diego area until we can find a home to purchase. This will take some time to accomplish. We have to really research the home because of so many deceivers trying to swindle and separate C. J. from his hard earned dollars.
Posted on: Thu, 30 Jan 2014 06:23:04 +0000
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