Foreclosure advice

[stoneeater]

What chickened said; but only in the last post. Definitely not in the previous ones.
Awwww, you poor, poor bankers. We feel sorry for your lost at risk taking. Imagine their being a downside to investing.

Uhum. Anyways, you have until the sherriff knocks on your door and asks you to please leave. How long that time is depends on the state and how busy your local cops are. Be a good scout and get prepared.

 

[carolinagirl58]

Here is an actual case that I know of personally. Family owed $180k on a 3000+ sq footage home that was 5 years old. House was on 3 acres of land. They found some discrepancies in the mortgage papers (white out, datesand signatures that did not match, etc), so they challenged the bank to produce the original. 2 days in court, fraud WAS proven and admitted to by the judge, but the judge ruled against them anyway. The house sold at the auction for $500. NO one was given a chance to bid....except for the bank's lawyers who bought the house back for the bank at their own sale. So now bank can file a loss to their mortgage insurance company for $179,500. Now they have their money back AND the house, which they sold again a few months after the sale for over $200K. Pretty sweet deal for the bank, don't you think?

 

[MustLoveHens]

DH and I went through a bankruptsy and foreclosure in California in 2008. Best thing that ever happened to us. It depends on your bank as to when you will get the eviction notice.
We had a second business we owned go south on us and we lost it all. We had a very good lawyer to help us through the BK. I remember that he told us when to stop paying the mortgage and from time we stopped to the time we volunterily (sp) the house it was 2 months -60 days. We left volunterily (sp) because the bank had a program called Cash for Keys. We got paid $1200 to leave the house volunterily (sp) and not get served an Eviction Notice. We did not want an Eviction Notice on our records and knowing we were loosing the house anyway it made sense to just leave. This was before all the bank paperwork fraud and such was coming to light. Also, as an FYI and because we did not know this at the time, if you do declare a bankruptsy, from the time you file to the time the BK discharges, no landlord will touch you because you can place them in your BK. We wanted to leave Calif and move to TN but we had to wait to find a place to rent in TN until our BK discharged.

Your position since your husband passed away makes the way the bank should be handling the house different- as in they need to communicate with you. I would recommend getting a good attorney if you have not already. Unless I mis read your post, the bank should be talking to you because you are 1) his next of kin and 2) the executrix of the estate. I find it odd that the bank is not allowing you to follow through on your duties as the executrix of your husbands estate and are in fact denying you to do so.
You should not need to be on the deed (nor would you be since you are not on the loan) to handle the sale of the house or make a decision on the property. (Even if you wanted to in order to keep the house.) Unless his will stated other wise, you own the house. So, again if you can contact an attorney to find out why they are not allowing you to complete you duties as the executrix of the estate and why they are not "talking" to you as they should be doing since the house fell to you upon the death of your spouse.

Honestly, I would recommend getting all of your ducks in a row now and getting everything packed and ready. I'm sorry you are going through this. I will not lie-it was absolute h.e.-double eck for us while we were going through it all. But honestly loosing that stupid house in Cali was the best thing to ever happen to us.