Not CW/BofA but don't know where to post this

[montana59451]

I bought a rental house on owner fnancing. Seller decided to sell contract without my knowledge. investor who bought note is Merdian Mortgage. never sent letter to notify the note was sold. Have not made a payment since 12/08. Have not received any correspondence other than letter (generic) that asks would I like to save 10% on my principal by paying in full. Did not call or respond. No action has been taken by Meridian. What are my legal rights? Or where to post ths. Moe, move this if you have to but let me know where this goes to. Thanks!

[Moe Bedard]

Hey Montana,

This would go in the general stop foreclosure forum and no big deal, I moved it.

Sounds like he may have committed fraud. He cant owner finance and then sell the contract unless it says it in your contract and if it does, he still has to abide by proper servicing disclosure laws under RESPA. Also, he may have never owned it free and clear.

[montana59451]

The servicing is done by a local title company (who also did not notify me of the sale of contract). What are my rights in this mess? Meridian Mortgage has not contacted me about missing 10 payments, so now what?

[montana59451]

I have re-read my actual contract for deed and it has no provison for the sale of the remaining portion, however, in the escrow agreement it states that I may be able to assign it as the buyer with the seller's consent AND the SELLER may assign it without consent, but it also says to refer to the contract for deed which does not state anything about the SELLER's right to assign it.

Additionally, I only became aware of the sale when my credit report showed that Meridian Mortgage Investors pulled my credit without my knowledge or consent. Apparently the original seller supplied my SSN to them.

Is all of this really legal?