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Can my home be sold by the lender while they are reviewing it for a loan modification?

Posted on: 10th Sep, 2009 08:03 pm
i recvd a letter dated JUNE 25 that wells fargo received my request to workout my mortage difficulties and will be reviewing it and should have an answer in 45-60 days. JUNE 26, yes the next day, my house was sold at a Sheriff sale. isnt this illegal?
If you stopped makign payment and they sent you a forclosure notice probably they can, if not then there is some thing wrong
Posted on: 10th Sep, 2009 08:06 pm
i did not make pymts per their rep. but from my understanding, the loan should hv been removed from the sheriff sale. in addition i recvd paperwork in July for a workout plan but the house wss sold.
Posted on: 10th Sep, 2009 09:05 pm
Thats realy strange and have to called the bank and asked them whats going on?

What was the answer from the bank?
Posted on: 10th Sep, 2009 09:09 pm
blessedalh

In my opinion It is really not a good practise,surely you can file a complaint against them with state authorities (if you at all wish to retain the house).
Posted on: 10th Sep, 2009 09:11 pm
Not a good practise!

This is not at all legal, what they are doing.
Posted on: 10th Sep, 2009 09:13 pm
I think yoy have to talk with them before doing any written complaint
Posted on: 11th Sep, 2009 12:16 pm
Talking with them is one of the process which has to be followed when the situation is not worse.Here the bank has already taken the action and thus in my opinion you should file a written complaint against them with the state authorities.
Posted on: 12th Sep, 2009 02:05 pm
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