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    alamo05's Avatar
    alamo05 Posts: 2, Reputation: 1
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    #1

    May 15, 2008, 03:28 PM
    Obligations on a mortgage contract.
    My husband and I signed papers for a Clayton manufactured home,then a week and a half later,the title company called and said we had to come in and sign the papers all over again because of a mistake on their part.What I want to know is-does that mean the original contract is null and void? I am willing to pay the appraisal of our real estate,and the title fees,but I no longer wish to purchase the home.Now,the sales agent is saying we ordered the home,and signed deed papers,and is threatening us with a lien on our property.No work has been performed on our property,other than the appraisal and title work.Please let me know what my options are.Thank You
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    May 15, 2008, 03:55 PM
    It will depends on exactly what "paperwork" is wrong, if the contract to purchase is not wrong, but merely that the tittle or deed has a error, then the contract is still valid, since all the want is correction in the title or deed. If there is something that would void the contract then would be another matter, you have to see what is wrong with what paper work
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #3

    May 15, 2008, 04:03 PM
    Fr_Chuck is correct, it will depend totally on the mistake, and which document it was made on so you will need to find out what the exact problem really is.
    alamo05's Avatar
    alamo05 Posts: 2, Reputation: 1
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    #4

    May 15, 2008, 06:15 PM
    Quote Originally Posted by Fr_Chuck
    It will depends on exactly what "paperwork" is wrong, if the contract to purchase is not wrong, but merely that the tittle or deed has a error, then the contract is still valid, since all the want is correction in the title or deed. If there is something that would void the contract then would be another matter, you have to see what is wrong with what paper work



    What was wrong with the papers was the woman at the title company had never done a mortgage for a Clayton home with Vanderbilt before,and she didn't sign the form in the appropriate places.I asked her if this made the contract null and void,and she said technically,yes.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    May 15, 2008, 06:30 PM
    Not having ever bought a clayton home, was the a purchase agreement, a legal contract to buy the home if the mortgage was approved?

    If so then as long as the loan is approved, you have a legal contract to purchase the home, if there was no legal contract with Clayton ( and I can not believe there is no legal contract) then if the mortgage is void it is void, but if you have a contract that you will buy if a mortgage is approved you still have an approved contract, only the mortgage is void at this point but if you don't follow though with the mortgage, then by the terms of the contract you would lose any earnest or deposit money most likely
    smearcase's Avatar
    smearcase Posts: 2,392, Reputation: 316
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    #6

    May 15, 2008, 07:58 PM
    Since it is obviously very important to you, I suggest that you talk to a real estate attorney. Not the one that is handling the settlement.

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