Complaint Review: View Point Bank

View Point Bank. On the 2nd of November 2004 where notified that property for loan number 18770, had been to sold to satisfy a judgment in a constables sale. They where instructed by the constable to foreclose on the property. They told their customer a British citizen Raymond that they had superior lien and that this would result in a judgment lien and he had a obligation to continue payments and could probably settle the lien when it came time to sell. All the while knowing that a sheriff's title had circumvented the dead of trust.

After a sufficient principle had been acquired $10511.10 from Raymond's account and almost 2.5 years later and after the value of the property had gone sky high due to developers in that area. View point bank decided to cash in and that its dead of trust had been violated and that it had to foreclose. The property sold for $19390.90 over what was owed on the note.

Raymond enquired about how he would receive this as there was still outstanding debtors to pay who had held mechanics liens, or if the money over what was owed could be sent directly to them. At which they told him that they get to keep everything. They then took another payment for the loan from Raymond's checking account with another payment scheduled for 1st June 2007. View point Bank even tried to buy the property at the auction but failed.

Had they purchased the property and then sold it I would agree that they have a right to keep every penny. But because it was sold to satisfy the amount owed on the note I can not see how they can with hold it from other lien holders or myself Raymond.

Raymond
Allen, Texas
U.S.A.