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Thread: Talk about your troubles

  1. #7361
    FORT Fogey Margaritaville's Avatar
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    Re: Talk about your troubles

    srs , I am so very sorry to hear about your troubles. Please know that I will be praying for you, and sending good thoughts your way. This economic disaster is hitting so many people in such devastating ways. Feel free to vent whenever - that is what we are all here for. Just another family (dysfunctional as it may be at times).

  2. #7362
    Shark Week! dagwood's Avatar
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    Re: Talk about your troubles

    Quote Originally Posted by srs_in_Oregon;3251634;
    The economic crisis has hit us hard, I lost my job in february, and my car last month because I couldnt pay it, and someone showed up at our house Friday and told us he bought our house in auction that morning, and we had no idea that it even went to auction. I wont lie, we were behind, but I thought if it was that bad they would tell us an auction date etc, and at least make sure we were out before they sold us, I had no idea that we could have it sold out from underneath us. So not only did I lose everything else, now were losing our home..We have 10 days to find a new place, and I dont know how were going to do it...especially now with a foreclosure on our credit..it sounds like were irresponsible, but were not..a year ago I had a good job and I was happy, and now things just are falling apart..Im 26, but I live with my parents, and originally I moved in here to help them, I didnt count on being the one that needed help..I know thats what families do, and I dont just sit around and get taken care of, I do a lot around our house, and take care of my nieces and nephews, but I feel so awful about everything that is going on...its just all falling apart. We tried to ask the guy if we could have a month to get through christmas, and he said that legally he had to evict us in 10 days, I dont know what that means, I assumed if he owned the house now he could do what he wants with it..he bought it to fix it up and sell it, so its not like he is going to move in...

    thanks for letting me vent guys, it helps to talk to people who arent in the middle of it.

    That seems kind of off to me, did he have any paperwork? You should check with the bank about the auction just to make sure it isn't a scam of some sorts. I would think that they have to legally notify you of an auction. Please check into it before you give up the property.

    Edit:
    According to this website The Foreclosure Process | Understanding How Foreclosures Work

    You should have received notice

    Stages of Foreclosure

    The foreclosure process is not very difficult to understand. There are several stages during which the homeowner has an opportunity to bring the loan current and avoid foreclosure.

    After about three to six months of missed payments, the lender orders a trustee to record a Notice of Default (NOD). At the County Recorder’s Office. This puts the borrower on notice that he or she is facing foreclosure and starts a reinstatement period that typically runs until five days before the home is auctioned off.

    If the default isn't corrected (the loan must be brought current) within three months, a foreclosure sale date is established. The homeowner will receive a Notice of Sale, and this notice will also be posted on the property. In addition, the Notice of Sale is recorded at the County Recorder’s Office in the county where the property is located. Finally, this Notice of Sale is also published in newspapers local to the county in question over a three-week period.

    The foreclosure Trustee Sale typically occurs on the steps of the county courthouse in which the property is located. The time and location of this sale are designated in the Notice of Sale. At the Trustee Sale, the property is auctioned in public to the highest bidder, who must pay the high bid price in cash, typically with a deposit up front and the remainder within 24 hours. The winner of the auction will then receive the trustee’s deed to the property.
    Last edited by dagwood; 12-15-2008 at 01:06 AM.

  3. #7363
    FORT Fogey srs_in_Oregon's Avatar
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    Re: Talk about your troubles

    we knew we were in foreclosure, but my mom was working with them and trying to get it so we could get out of it..but that second paragraph never happened, there was never an auction date given to us, and we never had anything posted on our house..
    Clay Aiken "when everyones working on it change isnt impossible, its inevetible"

  4. #7364
    Shark Week! dagwood's Avatar
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    Re: Talk about your troubles

    Quote Originally Posted by srs_in_Oregon;3251648;
    we knew we were in foreclosure, but my mom was working with them and trying to get it so we could get out of it..but that second paragraph never happened, there was never an auction date given to us, and we never had anything posted on our house..

    Still have your mom talk to them and see if the auction really happened. There are people out there who will try to scam people in your position.

  5. #7365
    Rock Stars! bbnbama's Avatar
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    Re: Talk about your troubles

    I completely agree with dagwood....I work for a real estate attorney and you should have been notified before being foreclosed on-its generally not something that just happens overnight-there are steps that have to be taken (as dagwood has already posted). It looks like if the bank was working with your mom, they would have much rather worked something out than go through the expense and trouble of foreclosing on the property.

    And if its all legit, why can't the new owner RENT the house to you instead of evicting you? Also, that new owner has a right of redemption on that property which means that within a year of the purchase, you can buy that property back from him, including his costs that he incurred.

    I would also advise NOT to sign anything unless its with your mortgage holder and only after reading everything!!!!!!!!! If you don't understand, ask until you do!

    I'm sorry to hear about your families struggles srs. Hang in there
    Last edited by bbnbama; 12-15-2008 at 02:33 AM.
    Reality is the beginning...not the end....Wallace Stevens

  6. #7366
    FORT Fogey srs_in_Oregon's Avatar
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    Re: Talk about your troubles

    so we should have gotten something that made it perfectly clear that our house was going to auction? with a date etc??

    we begged him to let us rent from him, we even brought up that we had young kids in our house..we CAN afford rent, we just got a little over our heads trying to buy...the economy is not good for housing...we tried to get him to rent to us, and he said he has to fix it up to resell it, financially he cant let us rent..lets be honest, he isnt going to be able to sell it quickly, not in these times...he could get a monthly income from us...also we asked him to please give us a month, to get a place and packed up..get the kids through christmas, and he said legally he cant let us stay, he has to evict us after 10 days...which I dont understand...if he owns it, why cant he do what he wants with it?
    Clay Aiken "when everyones working on it change isnt impossible, its inevetible"

  7. #7367
    Rock Stars! bbnbama's Avatar
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    Re: Talk about your troubles

    I've never heard of anything stating that legally he has to evict you but of course, I'm not an attorney and I'm sure every state is different.

    And yes, you should have received some kind of notification of a date and time of the house being auctioned. Go back and look thru your local newspaper to see if its listed (ours are listed at the front of the want ads) or go online for your local paper if you don't still have the newspapers.

    Make it a priority first thing in the morning to be on the phone with your contact at your mortgage company.

    Did you manage to get the guys name who said he had bought the house?
    Reality is the beginning...not the end....Wallace Stevens

  8. #7368
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    Re: Talk about your troubles

    A lot of what you've been told doesn't ring true srs. I know people who have fought an eviction and won. There is a legal process to it and your first notice to leave is just the first one. I'm not sure if you're being evicted as a renter or foreclosed on as an owner but generally it takes about 3 monrhs of court action and you will have the opportunity to present your case to the judge. Familiarize yourself with your state laws regarding this.
    Last edited by Bunny555; 12-15-2008 at 02:48 AM.
    CYA

  9. #7369
    FORT Fogey srs_in_Oregon's Avatar
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    Re: Talk about your troubles

    Did you manage to get the guys name who said he had bought the house?
    yes..he gave us a lease..or reciept..something that proved he had bought it..with his name, and phone number..then he wrote on there to call him for options, and of course we called him and there were no options lol
    Clay Aiken "when everyones working on it change isnt impossible, its inevetible"

  10. #7370
    Rock Stars! bbnbama's Avatar
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    Re: Talk about your troubles

    Something smells fishy to me...........CALL!CALL!CALL! tomorrow!
    Reality is the beginning...not the end....Wallace Stevens

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