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  1. #1
    Join Date
    May 2008
    Posts
    1

    Default Trying To Stop A Foreclosure

    My question involves a foreclosure in the State of: Texas

    My property / home is motion for foreclosure soon. We are working on every avenue possible at this time to stop it. Any help on any of these questions would be grateful.

    Our mortgage company does not seem to want to work w/us.

    1) We have put the home up for sale in hopes to at least pull out some equity w/ the mortgage payoff. Owe: 174,00 / County Tax assessor alone: 299,000 / Sell for: $215,00. Should this slow the mortgage foreclosure process down. Realtor and I have sent letters to mortgage company. Since, we have received 30 day attorney letters, a letter from the mortgage company that is under a 60 day review, and daily phone calls from different people at the mortgage company who do not have a clue what we are talking about. You can never talk to the same person, no extensions etc. They are bashed all over the BBB etc. for shady practice re: foreclosures, even though they are listed w/ Federal Government programs to help foreclosure process. Who do we believe. If it matters. Option One.

    2) We have about 3/4 acre behind our home which is dense wooded area Lived in the house 10 years and done nothing w/it. Surrounded by other homes, so you could not build another home there etc. Neighbor wants to by the piece of land which would take us completely out of foreclosure status and more. he has agreed to pay for survey and all costs for closing the deal. The mortgage company has stated we can not sell the woods no one uses. Is there some type of addendum we can file in order to sell the property to take us out of foreclosure.

    3) Can you file w/ the County Courts in Texas to stop a sheriff sell if you can show that you are trying to rectify the foreclosure by selling, etc.

    Have more questions, but this is a start.

    Thank You

  2. #2
    Join Date
    Apr 2008
    Location
    Calabasas, Ca
    Posts
    52

    Default Re: Trying To Stop A Foreclosure

    Quote Quoting dazed1nce
    View Post
    My question involves a foreclosure in the State of: Texas

    My property / home is motion for foreclosure soon. We are working on every avenue possible at this time to stop it. Any help on any of these questions would be grateful.

    Our mortgage company does not seem to want to work w/us.

    1) We have put the home up for sale in hopes to at least pull out some equity w/ the mortgage payoff. Owe: 174,00 / County Tax assessor alone: 299,000 / Sell for: $215,00. Should this slow the mortgage foreclosure process down. Realtor and I have sent letters to mortgage company. Since, we have received 30 day attorney letters, a letter from the mortgage company that is under a 60 day review, and daily phone calls from different people at the mortgage company who do not have a clue what we are talking about. You can never talk to the same person, no extensions etc. They are bashed all over the BBB etc. for shady practice re: foreclosures, even though they are listed w/ Federal Government programs to help foreclosure process. Who do we believe. If it matters. Option One.

    2) We have about 3/4 acre behind our home which is dense wooded area Lived in the house 10 years and done nothing w/it. Surrounded by other homes, so you could not build another home there etc. Neighbor wants to by the piece of land which would take us completely out of foreclosure status and more. he has agreed to pay for survey and all costs for closing the deal. The mortgage company has stated we can not sell the woods no one uses. Is there some type of addendum we can file in order to sell the property to take us out of foreclosure.

    3) Can you file w/ the County Courts in Texas to stop a sheriff sell if you can show that you are trying to rectify the foreclosure by selling, etc.

    Have more questions, but this is a start.

    Thank You
    Your questions are tough to answer as they are unclear.

    As to number one. Our questions is... You want to know if you trying to sell your property will slow down the process? I'm guessing... IF that is what you are asking then the answer is most likely not. There are tactics that then to slow the process down by postponing hearing and other methods but the courts will only allow you to slow the process down sooo much. You also don't want the court to consider you a nuisance attempting to work the system.

    As to number two, we have negotiated for releases of portions of the property but it will be up to the lender to release their interest. IT is not up to them to tell you if the area is zoned or if usable by the next buyer, only that the buyer is purchasing the property for at least a fair market value.

    As for number three, not to say that it is not possible to delay as mentioned above but they courts are aware that most will say they are doing a lot but never do anything but try to buy time. This is also why you will find that every state has a pre-set time frame in which they have already deemed you have had long enough to attempt to redeem your property. Some states even give a "redemption period", not Texas though. We find that many of your clients have similar stories as you do with difficult lenders and dealing with new people every time they call. If you have not been dealing with one person that means that you have not spoken to the right people. We have found that our clients, many times agents themselves, get lost through all the long waits and transfers from department to department. If you continue to have trouble make sure to find an agency that can assist you where many times even real estate professionals lack in experience.

    Best of luck. If you need further assistance feel free to contact us at the number below.

    Regards,

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