I have a question, and hopefully with your knowledge in this area, you can offer insight. I have a true story of a mortgage holder, through CountryWide, that is about to go through foreclosure.
This elderly gentleman was told by the mortgage company that he could and should co-sign for an individual with absolutely no credit or long term history of work. On the day of signing, this gentleman was ushered into Countrywide and signed not one... But also a second mortgage laid out by the company and the soon to be owner of the home.
During this appointment, it was well noted by the mortgage company representative, that the gentleman was under a heavy drug influence from recent surgery. So much so, the gentleman had to be driven to the mortgage company, carried into the appointment by the home buyer, then picked up by his business partner and carried home. Needless to say... The "family" of the gentleman disagreed with this practice from the beginning and saw the gentleman being pushed into signing during mental intoxication. All were shocked at this practice.
Now, Countrywide has contacted the elderly man to tell him the home will be foreclosed on, because of 8 months lack of payment. There was no contact beforehand. Once contacted, the gentleman offered to pay close to $30,000 to catch up the payments and Countrywide agreed. But the negligent homeowner declined to leave the home. Countrywide has decided to sue the gentlemans business for the $30,000.00 and foreclose on the home... Ruining his wonderful credit record.
My question would be... Does this gentleman have a case against Countrywide?
Thank you for your consideration and advice.
0 comments