my house wa sold to a third party
Submitted by ca 11
from CA
- 07/27/2010 - 10:22pm
I had received the original sale notice and it was put on hold working on lmo, then HAMP. I didn't receive the notice that the HAMP was declined. The first I knew the house was on sale at auction that morning and I tried calling the sr managaer at the foreclosure dept and she would not put of the sale so I could reapply for HAMP or come up with the money to pay of pending balance. The house was sold at auction and I saw an attorney who said we should file a lawsuit, to give me more time, and also to try to get my house back.We will do a froensic audit through NACA ( unfair lending practices/unaffordable mortgages)and the basis of the lawsuit would be CA civil code 2943demand on bank for promisory note, 21 days, fair debt collection fed code 1692, respa , there would be 5 sets of certified letters..
try to unwind transaction, get more money frm bank,
home sold over debt amount, but value of home is much higher I would like to keep my home what are the chances?
Also,the attorney will work on quit notice and preventing eviction. What are the chances of keeping my home which has been in my family for 40 years?
- Forums:
Before You Post
All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.
Comments
Please let me know if any of you know of a situation where someone has had a sale at auction of home sold to a third party? this just happened. ... please let me know if a sale has been rescinded???
or challenged?
At a trustee sale the lender makes the first bid which is the opening bid. If any 3rd party investor bids above the banks highest bid then they are the new owners of the property. This is a valid sale and the investor is the new owner of the property. Unless the Trustee failed to follow the non-judicial foreclosure process in your state there would be no grounds for rescinding the sale. You would undoubtedly need to obtain legal advice on this matter to see if there are potential grounds for challenging this sale.
Hi Michelle,
I have won the bid at auction sales, recieved the grant deed and alreday recorded to the county. For the past week I have been trying to look for the ex-onwer of the house but he was never ava. So, few days ago I've filed the eviction thru the eviction company online.
Now, the ex-owner of the house came to ring my home door bell telling me that he had never get a notice of sales from Citibank. He also had filed foreclosure prevention program back in July (he shown me the paper work with CitiMortgage so he said this foreclosure deal was a mistake and see what I could do to help. I did not made any comments and told him I will see what really happened.
Do you have any advise on this situation?
Will CitiMortgage have right to buy back this property even though I had already recorded the deed with the county? If yes, what is the time limit for CitiMortgage to buy back from me? Will I be compensate for all the costs that incurred on my side?
The ex-owner said he already filed the law suit with his lawyer, will the lawyer stop the eviction process? If so, what is the procedure with them and I?
Thank you in advance
Post new comment