Real Estate Home Mortgages/What a mess ..
Its a long story so I'll try to keep it short, We live in Texas an in December 2007 we bought on our first home, we had a realtor/broker whose license expired 11 days after we closed OOPS. Its a small 2 story A-Frame 982 Sq Ft built in 1969 on one acre its all wood on slab w/specit tank, in 1983 the first owners did 2 add-ons a kitchen an dinning room on the back side of the A, we asked for an inspection both realtors informed us one had been done and would get a copy at closing (BIG MISTAKE).
The front living room floors sloped down we were told it was a porch that had been enclosed. We went FHA the selling price was $45.900 we had 2 appraisal's done 1st one there was a problem over a closet, the 2nd one got as a $60.000 est value, We paid $56.500 within 2 years the house is falling apart,the sloping floors turned out to be a -3 inch foundation problem, advanced to serious mold growth in both attics and in the walls, and the slab is broke in 3 places. We never were given the appraisal or sellers disclosure until we asked for it 2 years later. I sent Chase a long letter to there research dept... explaining what had happen #no reply#. Well after 5 and 1/2 years chase has given us a new est value of $14.000 land and home our loan is now at $51.282 we have never been late or missed a payment we got locked in at 7% interest. I will not throw this loan this is all we have. I've sent you 2 pics look at the one with he black drywall and water slugs. No wonder why were sick all the time.
Well Eric like I said #What A Mess) any HELP at all would be Greatly Appreciated.
Thank-You So Much,,
The problems you are describing should have been known to the sellers and should have been disclosed to you. You have a potential lawsuit against quite a few parties - the sellers, the realtors, and possibly the appraiser.
You need to discuss the situation with a real estate attorney, who should be able to suggest how to proceed.
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