Sale of home on 3/12....can't find it...

[momisery]

We got the notice that our home would be auctioned off on the 12th of march. I live in the Springfield, MO area. They don't give you much time to get out, and we have 4 pets so we found a home to rent. We moved out and the power is on until the 11th. Tonight I tried to find information about the house and I found nothing in foreclosure lisings on line, and the DOT is still in our name.. we have insurance on it still too. How will I know if it is taken over by someone or the bank on the 12th? And why can't I find a listing for the sale of it any place? Thanks so much...

[justbroke]

I too was frustrated by this as well. I surrendered my investment property. It apparently sold at auction in late October of 2009. I was never notified. The only way I knew, was that I kept looking at the county records until it changed to REO (Bank Owned). Then I received a 1099-A in the mail in January, 2010.

Perhaps your County Court has a listing that they publish of sales. I don't know if they have this available online or not, but some of them do. Other than that, it's really difficult to tell.

It's a shame too. All you do is sit there waiting and waiting and waiting and they really never tell you anything.

[momisery]

We filed a BK so we probably will not get the 1099? Chapter 7. I thought there would be some listing with the sheriff or something in the county.. Maybe I should have looked at state? We knew we only had maybe 20 days but most likely less, so we moved out at the end of Feb., and last weekend was the last day to move things out of the garage. At least the weather is nice so nothing will freeze, but I would think they would come in on the 12th and seal it up, or something? It is frustrating. We had no choice unless they wanted to let us live there really cheap. We were driving the wheels off of two cars living there and our wages are suck right now. Lucky to have jobs I guess! I guess I wait...

[AngelinaCatHub]

I suggest calling your county Sheriff office. Ask for records. It is Public record and they must tell you of a civil action (criminal investigations are exempt from Public Record laws).

Surely they will have an officer scheduled to be on site. I believe this is always the fact in that some original owners may not be cooperative. 'Hub

[justbroke]

As 'Hub wrote, there's a list. And if it's a Sheriff's Sale, the Sheriff has to have the list. I just don't know how automated your County is. I can't find the list in my County, but the next County over, which is smaller, actually publishes the list on-line. Yeah, downside to that is that GOOGLE will find your foreclosure sale with your name in that County.

I like Hub's idea... call the Sheriff. I would also say, call the Court.

[secondtimer]

I've been in contact with my sheriff's office. They've been helpful, patient and compassionate.

The woman on the phone politely looked up my records and told me to call the office anytime I wanted.

I hope your experience is similar.

[BobMango]

The other thing that is interesting about this, while slightly off topic is how those "sales" affect property valuations.

My investment property was sold in foreclosure on Sept '09 for $85K (down from $330K). It was subsequently sold in January '10 for $110K. The only sale showing in Zillow is the $110K in January. I assume their reasoning is that a foreclosure is a distress sale which does not accurately reflect market values.

Funny this is that Wells was not interested in a short sale at $110K, but foreclosed and then resold for $110k instead. I just don't understand what perverse incentives exist in these situations.

[DeadManCrawling]

Bob,

I think this is the "moral hazard" argument in action. They play hardball so they can collect the PMI for one thing. But they don't want to start offering principal write-downs because then everyone will want one, whether they can afford to keep the place or not.

I truly believe we will get there-massive principal writedowns nationwide-but the question is whether we get there in some unified, legislated, fashion, or whether the economy drags the lenders kicking and screaming to the edge of BK themselves, and possibly results in another obscene bailout.

[BCA2009]

Just fyi, in Florida, the Sheriff doesn't hold the sale of foreclosed property. It is handled by the Clerk of Court. If you call them, they can answer any questions related to foreclosure property.

[momisery]

I found it on the sheriffs list.. and it should have been auctioned this morning. I guess I need to keep checking the deed then? Not sure how that works, but I am sure it will be out of my name now because either the bank has to buy it, or someone does when it goes to auction is my understanding?

As for principal write downs.. the bank I work for is not even considering them. The economy is turning around to them. If they would start hiring now then maybe it will be true. But I am concerned about the huge number of foreclosed properties out there. I am not sure I will ever own again.. at age 60 you could say my "feelings have been hurt".. lol I worked all my life to have medical get to an outrageous amount, and then suffering layoffs and hour cuts for so long that even spending all my 401K did not save us... nothing would have unless I was in the 250,000 per year income level for about 15 years. Fed up, and walked away from the old way of thinking now.. Now instead of keeping my credit score up, and having a nice home and decent cars I am worried about not living in a maytag box... do they make the boxes in China now too or will I be investing in America?? lol