Complaint Review: Minerva Properties

Minerva Properties made an offer to me to purchase a home from an owner who was having financial difficulty. For a purchase price of $85K, $5K down, I could own my own home (houses in that neighboorhood range from 70K to 100K. This one was overpriced). The interest rate was 13.5 (another ripoff. I thought that I had to take such a high interest rate because of my credit). I sat in a closing on July 27, 2001. I had to pay the taxes on the property from August 1, 2001 through December 31, 2001 and Minerva paid the back taxes. As it turns out, I never owned the home. The closing attorney and Minerva created attachments to the documentation and documentation afterward that indicated that the title insurance would be null and void against any claims by a particular mortgage company. The additional documentation (after the close of the sale) was something called a wrap around note, that was couriered over to my office, by someone who couldn't even explain to me what a wrap around note does. The mortage company (I should say bank here) sold the loan to Fairbanks Capital Mortgage, who eventually kicked me out. Fairbanks never even contacted me. Before I left, I found out that I never owned a home in the first place. The home did not show on my credit report and Minerva Properties dissappeared into the wind. I went through foreclosure, where my name wasn't even mentioned on the warrant (Fairbanks didn't know who was living in the house, but they still had the former owner's name on their documentation). In court, I asked Fairbank's attorney why they think that someone else still owns the house, he told me that the house was never mine to begin with, even though I made down payments, etc. Reason: The house had a property lien on it. I backtracked and looked at my closing documentation, which revealed that the closing attorney added documentation that says that the closing attorney shall be held blameless against any claims against the property. Oh wonder of wonders! The closing attorney and Minerva Properties evidently knew the house couldn't be sold, but they sold it to me anyway. When I tried to contact the closing attorney, he blew me off. Minerva, HA! All you get is voicemail and no return phone calls. I think old boy left the country. Regina Decatur, Georgia
U.S.A.