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  1. #1

    Default After The Sheriff's Sale

    My question involves a foreclosure in the State of: MN
    I have owned my home for 20 years. I lost my job and child support last fall in a 3 month period. I have a first mortage through Wa Mu and a home equity loan through Wells Fargo. The original sheriff's sale was set for mid August 2007. I had an attorney file bankruptcy the day before the sale was to happen. I have not had any corespondence from the bank since then. My friend called last night and was questioning me about it and told me to check for it online. Online, through the sheriff's office it says the house was sold back to the bank on Nov. 15, 2007. My redemption period ends May 15th, 2008. I went to see my attorney about a month ago and all he did was yell at me for not making a car payment on time (which it had been and he insisted it wasn't - I proved it) but he wouldn't give it up. He told me Wells Fargo only gives home equity loans to low life people who live in scummy mobile homes and all they are is a bunch of liars. I specifically asked what was happening with the house and he told me to wait until I received notice of another sheriff's sale. Wouldn't he have had this information in my file? I have always work and owned my own single-family home. Anyhow - is that a final drop dead date I must be moving out by? Why didn't I receive notice of the sheriff's sale Nov 15? Would calling the Wa Mu help or am I history? I have no where to go, no relatives, a son a his dog. Will and when would I receive an eviction notice? If so how much time would I have after that? Any other info you could offer would be great. That wonderful attorney is not answering my calls. Thanks much!

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,079

    Default Re: After The Sheriff's Sale

    Calling WaMu certainly couldn't hurt, but I fear it might be too late to do anything about it.

    The eviction notice can come at any time after the redemption period has passed.

    The bank may offer you a "cash for keys" deal (in your position, it would be smart to take it), or they may initiate formal eviction proceedings. You do not have to leave until these proceedings begin, but it might be wise to start packing now.
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  3. #3

    Default Re: After The Sheriff's Sale

    This all sounds like a horrible experience. Theoretically, the bankruptcy should have stopped the sheriff sale and it couldn't have been rescheduled if the mortgage was still in the bankruptcy. Unless the automatic stay was released for the mortgage, I don't see how the bank could have scheduled an auction for the house.

    I would suggest consulting an attorney who understands things like bankruptcy law, real estate law, and human compassion and empathy to find out what you can do. Your current attorney sounds like he won't be able to help you much and is avoiding the issue (always a bad sign).

    The eviction process will probably begin soon after the end of the redemption. You should get a notice before anyone comes to remove property and change the locks, so watch out for that.

    Calling WaMu is going to result in them saying that they did everything correctly and didn't break any laws. Even if they did something wrong and illegal, you don't expect them to admit to it, right? The best you can do with them is probably offer to buy the house back, which still won't solve your mystery of how they sold the house while it was involved in bankruptcy.

    Something is missing in this picture, I think.

  4. #4
    Join Date
    Apr 2008
    Location
    Calabasas, Ca
    Posts
    52

    Default Re: After The Sheriff's Sale

    There is a lot of great information here. As ForeclosureFish mentioned that the lender would have to be granted relief in order to sell the property. I have to say that it does sound though if the sale was to take place in August, BK was filed to stop the sale, which later took place in November, sounds like the time frames add up. Now we can all speculate what happened here but you can check on the PACER program for the US Courts to look up your case. That will tell you why this happened. You always have to make sure that you are not only paying the trustee but also all the creditors that you are looking to keep up. That means that if you are paying payments for your back due mortgage payments to the trustee you must continue making payments to the lender for the payments to come. As also noted above we would suggest finding an attorney.

    As per the sale that did occur. Most likely you're only recourse is to find someone who will finance you to purchase the property back. That is if there was not something that occurred that was against policy/law. Now I only have one disagreement with that was noted by ForeclosureFish which is the note about, "Even if they did something wrong and illegal, you don't expect them to admit to it, right?" As a loan servicer it is in their best interest to advise you if there was a problem because if there was then and it is established in court, there is only going to be larger casualties for them (rescinding the sale, etc.). Now, with that said, if something was done in error then it would be the attorneys that represent WaMu that would have done the error. WaMu in that case would most likely not know anything about it. In fact there are just to many laws in every state and down to every county to track them all. Since they continue to change the lenders always hire attorneys local to your property for that reason.

    It sounds like a difficult situation. Best wishes, and great participation of the others who answered on here.

    Regards,

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