Contracts
Contract Agreement
South Carolina
I sold my house but was never paid
To avoid foreclosure, I spoke with a contractor to flip my house for me. He would pay my mortgage until it sold then pay it off and keep the profit. I walk away with the mortgage company paid, but I was fouled. He isn't paying the mortgage after I signed the contract. I'm concerned he will be able to sell it now himself without the mortgage company ever being paid.
1 Attorney answer
Answer
Contracts
South Carolina
Christopher B.
ContractsCounsel verified
There are many issues involved in this question. I would need to see the original deed and mortgage on your house plus the contract you signed with the contractor. The original mortgage almost certainly had an acceleration clause stating that if you sold the property, then the full mortgage becomes due. Going after the contractor might be possible but other avenues would more likely be the better route to keep your house from being foreclosed. Will also need to see if your contract gives ownership to the contractor or just the right to sell on your behalf. Lots of additional questions that need documents to give you your options.
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