Posted on: 21st Mar, 2010 03:20 pm
We are in the process of a short sale on our property, we received an offer on February 26. Currently the appraisal is being done on the property. Yesterday we received papers for Civil Action-Law Complaint in Mortgage Foreclosure from attorney from what I am assuming is Countrywide/Bank of America. It says we must take action within 20 days after Complaint and Notice are served by entering a written appearance personally or by attorney and filing in wristing with the Court your defenses or objections. I have no idea what this means. Does this mean that after 20 days the property is going up for sherriff sale? I don't understand why they would proceed with foreclosure when we are in the middle of the short sale process...Please HELP!!
Hi Guest,
I would suggest you to contact your lender immediately and check out whether or not your short sale request has been denied by him. If your short sale request has been denied by the lender, then he will have the rights to foreclose the property. In that case, your property would go into sheriff's sale after 20 days.
I would suggest you to contact your lender immediately and check out whether or not your short sale request has been denied by him. If your short sale request has been denied by the lender, then he will have the rights to foreclose the property. In that case, your property would go into sheriff's sale after 20 days.