Foreclosure

[johnalan]

What is the name of your state?Ga.
I surrendered my mortgage during a chapter 7. I was discharged in August. The bank via their attorney sent me a notice saying the property would be foreclosed on 1st Tues. in October 04 and ran the required legal ads. I went to the foreclosure sale and my property was listed. No one to my knowledge bid on it so I asked the attorney what happens and he told me the bank now owns it. I asked my attorney if I that was true and am I free of the property and he said yes. Case closed so I thought. I just received two letters, one fromthe mortgage company stating I needed to pay to keep up the insurance to protect their interest and another from the law firm stating the property will be foreclosed on 1st Tues Dec. 04!! Any idea what is going on here? Thanks

 

[Ladynred]

The insurance is the bank's problem now, not yours. If your lawyer will handle it for you, then have him do so.

The debt is discharged, the bank has the property back -- you're in the clear.

 

[johnalan]

GA. That's what I thought. I'm just confused as to why they are running an ad in the local paper again with a foreclosure date of Dec. 7, 04 and also notified me via certified letter. It was listed and announced on the court house steps on Oct. 5, 04. It was my understanding that either someone bids on it or the bank gets it. I'm at a loss as to why another foreclosure date??

 

[Ladynred]

They will continue to advertise it each month until it actually SELLS. They did that with mine, it took them ELEVEN months to sell it and each month I"d get a notice. Its already foreclosed on, now they just want to get some money out of it.