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    matt 3466's Avatar
    matt 3466 Posts: 3, Reputation: 1
    New Member

    Aug 13, 2013, 08:18 PM
    I am a second mortgage holder. It was court ordered and served. Solicitor for the bank was notified as well.

    I was sent a letter from the bank lawyer asking for 492,000(included a holdback for 20,000 for repairs that were in progress). The house was appraised twice last year(owners were seeking a consolidation of debts) for 530,000 and 570,000.
    My second mortgage is about 42,000 right now($40 a day interest).

    The bank has the house up for sale for $459,000 and is rumoured to be willing to accept $425,000, (425,000 is approx. amount that owners owed but bank tacked on fees, lawyers. etc.) to get to $472,00. (20, 000 for repairs holdback).

    I will add that the lawyer I was forced to released and bilked me for $6500 and an outstanding bill of about 2600 torched the case and I have submitted to have his bill assessed and Law Society complaint has been started(lengthy).

    My questions are as follows:

    Does the bank have to notify me (and how if they do) if they sell the house and what is the remedy for me if they do not?

    If the bank attempts to sell the house for $425,000 (and Notifies me) do I have the right to say no way(too cheap) or match the offer?

    I welcome any information that anyone could provide. I think I will recover the money paid to the lawyer but he has run me dry at this point.

    I have a judgement. I asked for contempt and jail after 4th no show to examination in aid of execution. Judge said no but gave me a special appointment so the file could be reviewed more diligently before jail was ordered.

    The Judge suggested I be more creative and ask for drivers licence suspension and different things like that. I live in Ontario Canada.

    Can anyone out there let me know of different remedies I could include in my order that are effective in getting persons to obey Court Orders.

    The judge seemed to be telling me that anything but jail could be attained. This is 18 months and counting with never a show from defendants.

    Does a writ of sequestration help me if I do not know where they have hidden there personal property?

    One defendant makes over $100,000/year and I did garnish but bank is owed way more. There is a strong indication that they are still holding $150,000 worth of appliances(collateral) but it is not known where that is.

    It is in Superior court.

    I was informed by the judge to bring a supplemental Motion.
    I do not know what that entails? Does that mean I just do a an affidavit with more info and amend my order to ask for a different remedy?

    Can someone give me the Coles notes on what the supplemental motion is?

    I really need to do this asap as serving is a huge problem(my son stakes them out for hours till they appear from the hotel they are staying at as it has been difficult to get past the front desk) For 70 bucks I may just take the room beside these people and at least enjoy some TV till they come out.

    I will be extremely grateful and certainly assist anyone in any construction or architectural manner. I am an Architectural technologist who has worked in construction for over 20 years before being disabled at my workplace.

    Hopefully I will be able to assist others

    I have submitted a complaint to the Law Society. I am told this is the first step before statement of claim against a lawyer.

    I also filed for bill assessment

    How long does the Law Society usually take to review and act on complaints?

    Should I go ahead with statement of claim or wait?

    I did submit my offer to settle but there was no response from the lawyer. I am unequivocally right as the evidence is compelling to say the least.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,278, Reputation: 7690

    Aug 13, 2013, 08:24 PM
    The bank will notify you after the sale, and pay you any excess funds.

    And no, they may even sell it for less than they are owed, It is common for the 2nd lien holder not to receive any funds, and only the 1st lien holder get paid.

    Not sure why you think you will even recover your attorney expense.

    If you want the house, best choice is to work with 1st lender to buy the property for not what is owed now, but for the actual loan amount.
    ScottGem's Avatar
    ScottGem Posts: 64,970, Reputation: 6056
    Computer Expert and Renaissance Man

    Aug 14, 2013, 03:21 AM
    I'm confused. You are not the owner of the house, but hold a second mortgage on it? You have gotten a judgment against the owner for something unrelated to the second mortgage? What do you issues with attorneys have to do with anything?

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