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  1. #1

    Question When Can You Abandon a Home That's in Foreclosure

    My question involves a mortgage in the state of: OHIO

    Hello all,

    Our Bk was discharged in September, 2009. Our home was IIB. We did NOT reaffirm. We tried to keep our house, but when the bank would not renegotiate our 9% interest rate, we were advised to let the home go. Wells Fargo is the bank.

    A complaint for foreclosure was entered in July 2011. We did not answer the complaint.

    A motion for default judgment was entered on March 6, 2012. It has not yet been granted.

    Strangely WFs' attorney filed a "certificate of readiness" on both March 6, and again on June 25.

    We are ready for this nightmare to be over.

    Can we move? Can we leave and start our lives in a rental home?

    We are still paying HOA, and homeowner's insurance and will continue to do so until the deed is out of our name.

    I've called the courts, WF, and the attorney working for WF. No one will tell me if we are safe to sign a lease on another home.

    Can anyone tell me or point me in the right direction?

    Thanks so much. I'm grateful for the existence of these forums.

    sleepless in ohio

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: When Can You Abandon a Home That's in Foreclosure

    You already screwed up. Unless you are paying down what you owe and will stop, due to moving, moving really does not matter at this point.

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: When Can You Abandon a Home That's in Foreclosure

    What do you mean, "safe"? What are you concerned about? From what you have written it seems pretty clear that you have no intention of trying to keep the home.

    Keep in mind that if you do intend to insure a vacant home, your premiums will go up in a huge way.

  4. #4

    Default Re: When Can You Abandon a Home That's in Foreclosure

    I mean is it safe/legal to sign a lease (or land contract.. if the perfect situation could be found) when we have not "formally" been released from this home?

    I'm a teacher and would like to have the summer to move, rather than being forced to move in a very short amount of time at someone else's discretion in the middle of the school year or the middle of winter or.. or.. or...

    We will maintain a presence in this home. We continue to pay homeowner's insurance. One of us could even stay here until the whole process is over.

    I'm really just asking if we are legally permitted to move on with our lives?

    I truly appreciate any insight or advice you might have.

    sleepless in ohio

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