Bought a property at a trustee sale; the owner is trying to reverse

My house was sold at auction on Jan. 4 2011 and recorded Jan. 10th. My attorney has a hard copy of postponement of the auction. wells Fargo is the lender and now the title is in in Wachovia's name. do I have a good case for recession of sale due to an official postponement?

Hello there. My situation is similar. I've been in loan mod process with Wells Fargo and they had my house sold at the trustee sale. Please help guide me to do a reverse. All our family saving is in the house. We can't afford to loose it. Got the 3 days notice already. What I should do first? How can a reversal be done? Thank you very much in advance.

I have a property with a sale date in a few days. In checking the trustees Sale site: "LPS", the sale date shows the sale postponed to about 30 days in the future. Can we rely upon this being true or can this be changed back to the current (2 days from now) sale date? We have printed this out showing the sale date middle March instead of this week in February. We are currently pursuing a loan modification.

Hi, I have a question. I am currently pursuing a loan modification and I received permanent offer signed and notarized and sent back to the servicer. Spoke to the trustee in charge of the sale and I was advised it was reinstated. Can my home still be sold at auction? How does this get recorded. Does this mean the foreclosure is reinstated or the loan reinstated?

thanx

If you buy a property at the auction, the next day can you tell the trustee that you don't want the property and want the money back ?

I had the information two days before auction date, in any county in any state a before any released date of trustee sales site,

Bidder ... I suppose if you have the "inside scoop" or inside info (that's not public information) however you want to characterize it ... then you might be at risk of losing your BPV (bonafide purchaser for value) status or jeopardizing the BPV status of any potential steps buyer who acquires this inside info from you. That may not be an issue unless there's litigation post sale. But it's something to think about.

"Bidder" sounds like what on most forums would be called a spammer.

Josh -
Why bother? You owed more on the property than what it was worth? Banks aren't required to approve short sales. Now that B of A owns the property - if you are still in possession - ask them for some cash for keys. You'll at least get some money to move with.
Banks do this all the time. Eg. B of A postponed the sale of a unit next door to one I had for 13 months. The place was vacant - but the misguided owner thot it was the moral thing to do to try and sell it on a short sale. The red tape involved took a long time to try and get approval.. The bank turned down a sale of $120K. They finally decided to fcl. for $98K. I bought it on the steps because I knew all about the property and knew it was vacant.. In escrow for more than $120k.
They were owed close to $300K!
One thing the bank had the gall to ask of the poor owner was "We'll approve a short sale if you put $5K in escrow to sell your over encumbered property and sign us a personal note for $15K!" They did back down on that early in the process.
Out of curiosity - what did you think was the advantage of your doing a short sale?

Bill, why would you waste your money like that? There are all kinds of scam artists out there right now trying to get people to pay them to 'postpone or cancel' the upcoming foreclosure sale. It's all hogwash, they just do the same delaying tactics that anyone can do.

Depending on what their unethical delay tactic was, it will all fizzle out eventually anyways. If you have not paid your mortgage and you have not personally filed bankruptcy, then the house can go to sale. You can only delay it for so long.
I'm sure that the trustee will go ahead and sell the house, it is just a matter of when.

George -
You have to translate your post.
1. What does "sale of job use" mean?
2. What do you mean Chapt. 13 was "comported"? In my decades involved with Bk., never heard that term.
3. The bank would have sent a "Notice of Release from Stay" hearing to both the atty (if there is one, and your brother. The bank also would have periodically postponed the fcl. on his home and he could have easily tracked it.
It sounds like he couldn't have opposed the R/S as it sounds like he wasn't making plan payments. Simply put, just filing a Bk and doing nothing further only "buys" you 3-5 months of free rent. Not worth the damage a Bk. does just to get some free rent, IMO.

Hi,
i recently saw that the house i wanted to bid on was postponed for a month. I wanted to see the house and decided to drive by and check the house out. I got a chance to meet the owner and he told me that he had just signed papers and had sold it. Is that possible? A couple days later i still see that house i;m interested in is still up for auction....which one is it? Has anyone had any similiar experience?

Hello, I was in the middle of HAMP review. Made the three payments. I was told as long as he submitted us for HAMP that would stop the forclosure. His exact words several times on a call that is recorded for training and quality purposes, was "It will now start the process all over." Granted my home preservation specialist was/is not the sharpest because I had to ask him about HAMP, and other programs like the HMP2 (for seconds) he still needed to check on that. Also I stated in our last LONG conversation, I qualified for a hardest hit fund that would catch us up for what we were in arrears if we qualified. He knew nothing. Said these governmetn programs are coming out so fast and still so new. At any rate I was excited we had made the trial payments. We now did qualify for HAMP after he had told me before the trial payments I did not. I didn't really care, the important thing was he was going to help me get qualified now. I am not asking for anything other than lower payments until we get jobs making what we used to after the auto industry took a dive with the houseing market. Now myhusband is a public bus driver. We barely make it. We can't afford our payments. We just need them reduced to 31% of our income it wuld be perfect. So he sends the packet out FED EX, inside are the docs, and a UPS envelope to send them back in. Filled them out by myself, a little intimidating as I heard they are sticklers for everything being exactly right. Got all my new financial information updated and ready. Had my husband take the envelope that morning and put it in the drop box. Called a little less then a week they said they it is in review. It can take up to 30 days. Ok fast forward less then thirty days later. I get a call at 7pm that night, asking me if I need to have assistance to help stay in my home. I had gotten calls like this before, but what was weird about this one, was they said it was sold on the courtsteps this morning at 11am. My heart got that sick feeling you get not as bad as when someone you care about is hurt or dies, but not a far off second. Beings that it is a three day holiday, the bank is already closed and Saturday also closed. Oh it was a gut wrenching weekend. I had called Cal-Western Reconveyence and it confirmed the property had been sold. I literally fell to the ground. 6 years ago we put all of our lifes equity from another house, and savings into this house. We have it specially appointed with ADA compliant features that allowed for roll in shower. (my grandmother paraplegic was caring for her for 14 years.) Other featured that greatly assisted her with being more independant. I'm so sick to my stomach. I barely sleep and I have to go a legal aid clinic this morning to answer a unlawful detainer suit. When I finally was able to get ahold a number myself, researching the internet. As those 800 number expletives would not give me any number. They could have cared less. Anyway I found the office of executive complaints. I told her my timeline of events, she followed along reading my file in her computer screen. She told me this was really wrong. No notice and no one calling to say, "Hey we need paperwork, or what happened." Also before the sale of the property in his last phone call he asked me. If the HAMP program turns out not to be something you can do, would you be willing to options to avoid foreclosure and sell the home. I told him we would NEVER let it fall to foreclosure. We have too much equity. According to my realtor, still over 100 thousand. No wonder they were so sneaky is the way I feel. I also stated we have our cars payed off. We would liquidate them and just one of them would be enough to catch us up our arrears. However even after that, I could borrow money from family if I absolutley had to because forclosure was the only option, and I could correct the arrears. This all is in our recorded conversation for training and quality purposed as he would always say. Well my new point of contact in the executive offices got back to me very fast as she said she would. She had said she would like to see this rescinded. She also said she showed it to a colleague that handles these sorts of things and knows a lot about them and that person agreed as well is was a good candidate for submission for rescission of sale. Now I know nothing guaranteed, and I'm just too nervous to sit here and wait for an answer and not be pro-active. I will fight for my rights until I have nothing left in me. I will go to every government watchdog agency that will listen. If it turns out bad, then I will start at a local press/media with my story and work my way up to national syndicated press and media if I have to and am lucky enought to get someone to give me an ear. Plus I am in the process of writing my letters to my state attorney general Kamilla Harris (who is holiding tough on the bank settlement, becuase she doesn't think it tough enough.) I've written and filed a complaint with the OOC (office of currency, which regulate the banks.) I also have written and filed complaint with two consumer protection agencies. I've been a letter writing tazmaniniun, proactive because I know that you never give up. On Friday the HAMP hope agency that has a hope line, took my information. This office was a non-profit. She did a three way call with me and the bank in the exec offices, and in the end felt I had reason too to believe and fight for an overturn of this unlawful grave mistake with serious ramifications to our personal and professional life. Not to mention our health right now. I just want them to do the right thing. The girl at the non profit hope line sent my case (she said it was a case for escalation) to her higher up who in turn would send it to The U.S. Treasury Dept. This was good becuase that was who I was going to write next. Also by calling this number the Frank Dodd consumer protection act that came out last year. It set aside funds to help distressed consumers with legal aid, counseling and acting as a mediator if necessary bring the case to a conclusion. If they were not going to work with me, all I needed was an option to protect myself to sale my house so as to get my equity out or try to get help from family which I had already secured a large portion from my dad that we could have made up the other part. I feel now after reading all these stories about poor other homeowners and in light of the lawsuits filed over the weekend by the attorney general of New York, I just hope they banks are ready to do the right thing finally. There is a real opportunity for one to stand out and step up in my opinion. They might as well. Eventually they should just do the right thing in my opinion. Sorry this is so long. I'm praying for good outcome. To hear some good new's this week. To think if they could have just lowered our payment 300 a month and this whole thing never would have ever would have happened. The hardest thing has been to keep my cool when the people who bid at the trustee sale, came to my door. I just kept telling myself, it is not thier fault. Take a deep breath, and carry on. It's hard though when you look at your little girl whom is sleeping in her bed and loves her room. My daughter is adopted. She lost both her biological mother and father within 2 years a part. However she has never know so much security being in one place for so long. There are so many reason that we built this house. Wells Fargo stands to make plenty of interest off of us in out 30 to 40 year loan. In fact more if they were to keep our loan which we were never late on until my husband lost his job and took such a financial. Now if it is recinded we get to wait and see what? If the third party who bought the trustee sale will sign the deed back? Why would they? I mean unless they are just super nice people. How does the bank handle those kind of situations. I'm getting a headache thinking of it. That's thier job for screwing up so horribly. Has anyone else had any recsissions done? How did they go? Good luck to everyone, I pray if you are trying desperatley to save your home you manage to get the help and or answer you need too.

It is hard to imagine the frustration and anger that you must have over loosing your home. 1st the lenders have screwed many people with the sub-prime mortgages. Now the government is lying to the people giving false hope. If there was equity in your home, why would you risk it to foreclosure? If you could no longer afford the house and it was worth more than you owed, then why didn't you sell it and take your cash while you could?

I have recently had a look behind the scenes of a foreclosure at a bank. There are many steps before a lender forecloses. It is reviewed by many people inside and outside of the bank. To insure that options to foreclosure have been examined. It is likely that the investor that owns the loan is consulted. Fannie Mae is contacted as they are likely the GSE that has insured the loan and will end up ultimately taking the loss. There are few recissions becuase foreclosures made in error are rare.