Posted on: 07th May, 2013 04:56 pm
Hello;
I have what I think is a pretty unique situation. I stopped making payments on my home in 2009 at the suggestion of B of A, in order to start the process of modifying my ARM mortgage. After 3 years of going back and forth with the bank, they denied my application for modification and went after a foreclosure. In January 2013 I was taken to court by the bank and a foreclosure was filed against me and the sale of the home was scheduled for February 20, 2013. A few days before the house was to go up on the auction block I received a motion from the banks law office stating that they were seeking to cancel and NOT re-schedule the sale of the house. The sale was cancelled by the court on the 18th of February. That was the LAST I had heard about any sale action on the house. In March we were able to get an approved short sale contract from the bank. They accepted the second short sale offer we got on the house. The closing date was set for May 6th. On April 30th we learned from the closing agent that the house was sold at AUCTION on April 23rd. We took a motion to vacate the auction sale before a judge on May 6th. The attorney for the 3rd party buyer produced a court dockett that showed that the sale of the house had been resheduled. A copy of this letter was allegedly sent to my home address, but i never saw it. The judge ruled that the auction sale was not going to be reversed. However he also ruled that he would not give the 3rd party buyer a writ of possession until July 8. So my questions are these; 1 can I sue the bank for selling this house at auction after having agreed to a short sale? 2 If the buyer of this house wants to charge me rent do I have to pay him? 3 What items can I take from the house with facing legal consequences? 4 how the heck can a bank just auction off a house after they have already accepted a short sale contract? 4 can I have the court issue a release of the debt for this house seeing as the bank had already agreed to those terms in the short sale contract? Please help.
I have what I think is a pretty unique situation. I stopped making payments on my home in 2009 at the suggestion of B of A, in order to start the process of modifying my ARM mortgage. After 3 years of going back and forth with the bank, they denied my application for modification and went after a foreclosure. In January 2013 I was taken to court by the bank and a foreclosure was filed against me and the sale of the home was scheduled for February 20, 2013. A few days before the house was to go up on the auction block I received a motion from the banks law office stating that they were seeking to cancel and NOT re-schedule the sale of the house. The sale was cancelled by the court on the 18th of February. That was the LAST I had heard about any sale action on the house. In March we were able to get an approved short sale contract from the bank. They accepted the second short sale offer we got on the house. The closing date was set for May 6th. On April 30th we learned from the closing agent that the house was sold at AUCTION on April 23rd. We took a motion to vacate the auction sale before a judge on May 6th. The attorney for the 3rd party buyer produced a court dockett that showed that the sale of the house had been resheduled. A copy of this letter was allegedly sent to my home address, but i never saw it. The judge ruled that the auction sale was not going to be reversed. However he also ruled that he would not give the 3rd party buyer a writ of possession until July 8. So my questions are these; 1 can I sue the bank for selling this house at auction after having agreed to a short sale? 2 If the buyer of this house wants to charge me rent do I have to pay him? 3 What items can I take from the house with facing legal consequences? 4 how the heck can a bank just auction off a house after they have already accepted a short sale contract? 4 can I have the court issue a release of the debt for this house seeing as the bank had already agreed to those terms in the short sale contract? Please help.
Hi Juce,
You may take legal actions against the bank regarding the short sale. You need to contact an attorney and he will help you in filing the lawsuit. If the present owner charges you rent, then you may have to pay him that. You can take away those items which you have bought on your own. You may ask the court to provide you with a lien release certificate.
Thanks
You may take legal actions against the bank regarding the short sale. You need to contact an attorney and he will help you in filing the lawsuit. If the present owner charges you rent, then you may have to pay him that. You can take away those items which you have bought on your own. You may ask the court to provide you with a lien release certificate.
Thanks
Hi Juce!
Welcome to the forums!
I agree with James Hogg that a legal action can be taken against the lender. If you stay in the property unless you get a judgment in your favor, then you need to make rental payments to the present owner of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with James Hogg that a legal action can be taken against the lender. If you stay in the property unless you get a judgment in your favor, then you need to make rental payments to the present owner of the property.
Feel free to ask if you've further queries.
Sussane
I think you should contact an attorney. You have a strong case here. and I am sure you have the letter/communication sent by the back accepting the shortsale.
Thank you all very much for your time and advice. I will be contacting an attorney tomorrow.
Do keep us updated about what you attorney told you! :)