foreclosure

[ifitdoesnotfit]

What is the name of your state?
new jersey

my sister has been trying to save her house from foreclosure for quite a while (months.. and quite a few). She finally realized that she couldn't afford it and wants to save the equity she has in her house. She found a buyer for her house but when a broker looked into the status of the foreclosure (through my sister's credit report), he found that the house is listed as foreclosed. She still lives there but can't seem to get through to the mortgage company to get an answer if she is still able to sell the house herself. Is all lost? Does anyone have any experience with this?

 

[HomeGuru]

What is the name of your state?
new jersey

my sister has been trying to save her house from foreclosure for quite a while (months.. and quite a few). She finally realized that she couldn't afford it and wants to save the equity she has in her house. She found a buyer for her house but when a broker looked into the status of the foreclosure (through my sister's credit report), he found that the house is listed as foreclosed. She still lives there but can't seem to get through to the mortgage company to get an answer if she is still able to sell the house herself. Is all lost? Does anyone have any experience with this?

**A: your sister is not givng you all the facts.

 

[ifitdoesnotfit]

to home guru

Thank you for responding.. i was hoping that you would see this. If I assume that her house has been foreclosed and has not gone to sheriff's sale yet, is it possible that my sister can act as the seller if she already has an interested buyer? And how does she go about doing that? (she stands to loose over $100,000 in equity if it goes to sheriff's sale)

 

[HomeGuru]

Thank you for responding.. i was hoping that you would see this. If I assume that her house has been foreclosed and has not gone to sheriff's sale yet, is it possible that my sister can act as the seller if she already has an interested buyer? And how does she go about doing that? (she stands to loose over $100,000 in equity if it goes to sheriff's sale)

**A: she needs to get off the pot and find out what the status is from the lender's attorney or the foreclosure Trustee. This action should have been taken MONTHS ago.

 

[ifitdoesnotfit]

to home guru again

Her case is being handled by a foreclosure attorney and it is impossible to get through to them... a tape picks up and says that they will return the call in five business days. A piece of correspondence that she had gotten recently said that she had til march 1st to pay off the back due mortgage and attorney's fees. The problem is that she can't go to closing with her buyer by march first and we don't know if she is legally in position to go to closing. The buyer is afraid to give back due moneys without knowing if she would still be able to act as the seller once the money is paid. My question: Do you know if she is still legally able to act as the seller? We are still currently trying to get through to someone in the legal department.
Another question: do you know if foreclosure departments are ever willing to give someone a thirty day grace period if she has a signed contract of sale?

Thank you for your time

 

[kmc1021]

what company is that? I had that same problem. I had to get a court order
to get the info