if the Hoa forecloses on your home and then they sell it back to you, is the bank loan tied to the home still?

To whom it may concern:

I am writing this letter to explain my extreme financial hardship. I currently owe $108,000.00 on a house and property in Manhattan, Kansas. This is my primary residence and only valued asset.

In June 2000, I relocated my business back to my hometown of Manhattan and purchased the house my family built in 1969. With me I brought five business clients from a successful practice in another state. Within a few short months business closures and client bankruptcies dominated my business. My monthly income declined and my house fell subject to foreclosure, as I was not able to afford the monthly expense requirements.

In July 2010, I applied for the HAMP loan modification program. Through continuous delay and lost paperwork and a one-year time period, I was notified that my application for the program was under review for consideration. My last contact with the bank about my request was in July 2011. In August 2011 the banks attorney’s conducted a sheriff’s sale and sold my house at public auction.

On October 28, 2011 the Honorable Judge Stuzman in Riley County District Court held a scheduled hearing regarding my house foreclosure situation. There were many discrepancies in the foreclosure process and I will suffer extreme financial harm because of deficient foreclosure practices. I understand that the burden of proof lies on me to prove these problems. My Right of Redemption period to redeem the house ends on November 18th, 2011. At that time the title to the property will be transferred and I will be homeless.

I am in need of help as apparently the Judge and Courts think that I have ample reason based on facts to contest this foreclosure. The current value of the house is more then the amount of the mortgage due. But the bank and third party law firms are intent in taking the property. Redeeming the property by selling the house will satisfy the judgment. This is my intent.

I am a third generation Kansan born here and educated in Kansas. Is there anything that you or your staff can do to assist in this matter so that I might have enough time to resolve this situation? This is a very time sensitive matter and requires an immediate response.

Thank you in advance for your time and consideration. Once again there is not much time left to resolve this situation.
Sincerely,

Kentucky

"Can you fight the judgment order of sale of a property when you showed that the servicing company was no longer the holder of the mortgage THE DAY the judgment went thru?, and that the servicing co. purposively refused to work with you?"

Also we numerously requested deed in lieu and the servicing co refused to acknowledge. We had 2 potential buyers but the servicing co refused to work with us.

On the judgment papers the "right of redemption of defenadants" was marked out??

If and when the sale happens are we liable for anything?

I applied for the HAMP program a year ago to help me adjust my mortgage. First, they lost all my paperwork so I had made copies and resent it all again. I waited to hear from them about adjusting my mortgage. My mortgage payments were taking directly out of my US Bank account. Once I got behind on payments they closed the account. I heared from US Bank (the mortgage bank) in July that they have recieved my application information and that it was being reviewed. In mid August the bank sold my house at a sherrifs auction. I was never notified of any of this while I was still waiting on mortgage readjustment from the bank. Now the house is in a redemption period which is about to expire and I would like to sell the house and redeem it. Can I get an extention on the redemption period of 3 months which is about to expire?

First my servecier failed to pay my insurance from escrow, then I got a new insurance and we had a claim, we found out that teh new insurance did not have the coverage for first time home buyes which I was told covered hidden and conceled damages, at this point I called the servicer ( specilized load services ) and was told that we do not cover any conceled damages ( termites and mould ) Then three weeks later teh load transferred to another servicer,,, and then through 9 more in the next ten months, then I got one that said that SLS committed fraud i not paying the contractually payable insurance and they would make sure that it was set back to SLS, this happened in '09' in august insurance due in sept thay refused to pay again, I had to get another insurance company to cover it and they (sls) were not talking to me so I stopped paying. Now it has gone back to teh bank I was forced to file bank rupcy on may 23 sale date was may 25 then I was contacted by SLS to file for a reduced payment and reneogeotiate teh loan, the day I got teh paperwork from them I called and was told sorry it is not in REO hands someone came by with a photocopied hand written note with a truck ful of someoneelses possessions and said he got them from the last house he stopped at and he laughed said he was doing good taking stuff left behind... I have since may been trying to get someone to talk to me about this loan and get he damages to my house covered it amounts to about 70,000 in damages I was told to bulldose teh house and start over as due to the roof slipping in about 2 inches it was unsafe,,, I got no notice until I got a 3 day on the door and no help..... none there is not obama help it is all an abomanation and all bs... these managment companies appear to make a lot of mistakes and we pay...wing.reggie@gmail.com

My home was sold at Trustee sale. However I have a letter from the bank saying they would not sell the house during this 30 day period, but they did sell it on day 29. What would be my next step to getting my property back?
John

How does a buyer of a bank-owned property know whether the bank acquired the property via a judicial or non-judicial foreclosure? Many buyers may want to exclude all properties that are subject to a right of reedemption.

thanks for the explanation, do you mean that I could also buy my house which I have already sold to someone else, ages back. If so I'd like to buy my farm house, which I don't owe currently. I'd like to know more regarding the right of redemption laws.

We are renting a house that is being auctioned off at a Trustee Sale by the Homeowner's Association with a right of redemption. What does that mean to us? We would like to buy the house ourselves, but not sure where to start?

what if the lien holder was not able to sell property at auction, is the lien holder able to sell the property above the default amount?

I currently live in the New York state and i have been trying to do a short sale on my property. i just found out that I may still have to fill an IRS form 1099 even if my house is sold and the lender may still come after me for the balance owed on the house after the short sale. How do i know that my mortgage is a recourse or non recourse loan? Is a short sale better than a foreclosure or do they both have the same ramifications?

thank you.
S&P

Due to a marriage separation and then a job loss my nephews house in Alabama was foreclosed on and sold at auction on April 12, 2010. I am providing the funds for him to redeem the property as defined by Alabama law. The funds will go to the person that bought at auction. The buyer and I both are doing this through attorneys, however we are told that redemption is so rare the atty's don't seem to really know alot about it.

So, my questions are:

1. How does this work as to refiling the deed in his and my name, our atty said he will send it to probate, but how does the court know that he redeemed?
2. Will the foreclosure be removed from the record so that it does not ruin his credit.

We are just waiting for the information of where to wire the funds from the buyers atty since he forgot to include that in the "Statement of Lawful Charges" that the buyer provided. We hope to do this tomorrow in order to avoid the order to vacate which is May 14, 2010.

A house in our neighborhood was completely destroyed in a fire 4 years ago. The house in in the same exact condition today as the day after it burned to the ground. Code enforcement said they could not enforce anything on the owner since he was in prison - not sure if charges were related to home burning down or not. A bank took over ownership in Sept. 2009, with intention of demolishing home and building a new one on lot. They have been prevented from doing so because of previous owners right of redemption in the judicial foreclosure. They say legally they are stuck until September 2010.
Is there anything the city or government can do to force the demolition of the property regardless of the ownership or that it is in right of redemption phase? In speaking with the current owner they lead me to believe that the previous owner is holding out to make a plea bargain to lessen his sentence. Not sure really what is going on - except that this completely destoyed home is left in our community for us to all look at for four freakin years at this point! The only thing of any value is the land. Can anything be done in this situation?
pleasantviewneighbors@gmail.com

Can you please advise if an estate is willed to five people, one being named the executor and the executor mortgages the property without the knowledge of the other five and then defaults on the loan and the property is foreclosed on. Is there any way the remaining four people will see their share of this estate when it is sold at auction?

i had a home in short sale process. indymac approved sale,2nd lender sold mortgage to debt collector who sold to 2nd debt collector.on jan 4 debt collector agreed to release lien for 3,000.indymac then said apraisal expired need new approval.indymac changed locks,appraiser couldnt get in house,time running,auction scheduled ,realtor told postponement ok ,come feb 2 auction,house not sold but bank repossessed.indymac stalled on granting approval to short sale they had already granted and home foreclosed. home originally acquired only as partial payment from xfriend who borrowed money and didnt repay, home repayment but used former friends broker,home illegal unit,paid liens of former friend,i got conned a 2nd time. payments to high with illegal unit ,unreported damags ,flooding,illegal unit . is ther anything i can do to not lose house in foreclosure and still get short sale
thankyou

Ralph,If you purchase your home back in California through the Right of Redemption after a Judicial Foreclosure, can the lender still receive a Deficiency Judgement for the differance of the loan and the sale price (plus costs)?

I live in las vegas nv and i am 120k upside down on my house if we walk away is nv a non-recourse state and what are the changes of having to pay them back thank you

we went to court in november for foreclosure. showed the judge a paper from the place we were working with showing we were working on saving the house. 2 days later we lost our job. now they wont work with us untill we have a job. cant find one so we are going to have to move. i called the mortgage companys laywer. he said the date to try and redo our loan was april first and it is auctioned april 3rd. we did not get any papers saying auction date. our papers from the court in november said we have 90 days after the auction date to redeam the property. does that sound right? do they have to notify us in writing or anything of the auction date? will we get any more papers telling us when to be out? we also got a envelope today in the mail from the mortgage company. it was a privacy report flyer. thank you . we still dont have a job and are looking for a place and trying to save money to get one. we have 3 kidsthe papers say judgement for foreclosure and sale. it has no date of sale. it states. the rights of redemption shall expire on april 3rd. unless shortened by further order of the court, except pursuuant to 28 u.s.c. sec 2410/ the u.s.a. , if as a defendant, shall be granted 120 days from the date of the sale within which to redeem the property from sale. i called the mortgage companys lawer 4 times to finally get someone to tell me the auction date was april 5th. i have nothing in paper to state that though. so how much time do i have to move? will they notify me in writing or by sherrif? do i have the 120 days? thank you

This is great, this information is helping us with a situation pertaining to my brother.

Thank you