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mrscda · Oct 15, 2007, 06:05 AM

Our home has gone into foreclosure and they have posted the Trustee's sale notice in our local paper for Nov.16th. If we can come up with the funds, can we stop the foreclosure before Nov.15th?

ScottGem · Oct 15, 2007, 06:12 AM

Usually yes. It will depend on how chronically late you are. The foreclosure sale notice probably includes the court that approvied it. Check with the court to make sure. Also call the lender and ask them.

mrscda · Oct 16, 2007, 06:09 AM

I called the lender yesterday and they told me that since it had been turned over to the attorney, that's who I needed to talk to. I called the attorney, who by the way, at the bottom of his letter stated "this communication is from a debt collector. This is an attempt to collect a debt and any information will be used for this purpose" told me they couldn't tell me anything, that they would call the lender and have them call me. We have secured the funds through our church to pay the back payments, but now no one will talk to me. It's almost like they want our property and are stringing me along. Any suggsestions?

excon · Oct 16, 2007, 06:20 AM

Hello mr:

Sure. Go to the sale and bid on your own house. The lender is only going to bid as high as his loan, and you can bid a dollar more. Pay the lender, and write yourself a check for a buck.

excon

PS> I agree. Talking to scumbags like that is extremely distastful. Now, you don't have to talk to them at all. I love outsmarting them...

ScottGem · Oct 16, 2007, 06:23 AM

Talk to the court that issued the foreclosure notice. I can understand the reluctance on the part of the lender and their attorney. You defaulted on the loan once, even though you have come up with a temporary solution what's to guarantee you won't default again?

That's why you need to talk to the court to get the law in this case.

mrscda · Oct 16, 2007, 06:51 AM

Everyone tells me the banks don't want to forclose. Why wouldn't they want us to bring the loan current and work with us? In the town we live, (pop <2,000) there are over 150 homes for sale. They won't get what much out of it.

ScottGem · Oct 16, 2007, 07:07 AM

Its true that banks don't like to foreclose, but they have to look at the history here. If they stop the foreclosure now and 6 months down the road you are in default again, they have to just got through the process (and the expense) all over again.

mrscda · Oct 16, 2007, 07:18 AM

I agree with you, but wouldn't they still want us to get current and then work with us? Actually, we've talked to a couple of lenders that would refinance us, but we have to get current with the laon we have now. We want out from underneath the current company, they've always been difficult to work with.

ScottGem · Oct 16, 2007, 07:21 AM

Again, I don't know what there thinking is.

mrscda · Oct 16, 2007, 10:58 AM

I might be getting somewhere. The attorney called, gave me a phone # to the lender, and after being transferred 4 x's spoke to someone that said we can have the loan reinstated by paying the back pymts and their attorney fees. We have till the 31st, but of course everyday we wait the amount goes up, so the sooner the better. I'll keep you posted.

ScottGem · Oct 16, 2007, 11:34 AM

Please do and good luck