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  1. #1
    Join Date
    May 2012
    Posts
    1

    Default What Can the Previous Owner Do After the Redemption Period Expires

    My question involves a mortgage in the state of: Texas

    I received a letter of foreclosure in the fall of 2011, which I thought was "intent of foreclosure", which prompted me to call the legal firm and my HOA which filed the foreclosure over a matter of an original unpaid $200 HOA annual due. I "resolved" the outstanding debt by paying the HOA and Legal fees in full ($2000), and later even received a mail from the HOA at the beginning of the year for the next year's dues, showing that I owed no outstanding amount.

    What I failed to realize was that my lien had been sold and indicated in that letter I received in the Fall of 2011, and the 180 days of redemption started THEN. Now in the spring, I have received on day 181 a notice for eviction, county court appearance notice concerning foreclosure, $100 in past rent, and court costs. Only now, I have realized the gravity of the situation.

    I have hired an attorney, but am looking for more opinions. Do I have any rights to the property after the 180 day redemption period? I am willing to handle all monetary matters in full. My attorney has told me that the HOA and 3rd party buyer has broken no law. The attorney is still researching loopholes.

    I travel +90% of the time, and let large stacks of mail pile up for months at a time. Someone can by my property, I lose all equity, I have to continue to pay the 15 years of mortage for nothing - even though outside the redemption period, I am willing to settle all matters in full?

    thanks,
    ZD

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: What Can the Previous Owner Do After the Redemption Period Expires

    The redemption period is what it is. A 180 day redemption period lasts 180 days.

    You can hope that your lawyer finds a defect in the process used, or is able to negotiate something.

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