Finally -- Foreclosure sale AND......

[footballfan]

Our home, which was included in our Ch 7 bankruptcy, finally sold at public trustee auction a couple of weeks ago after a one month postponement (confirmed by public trustee's office).

Yay!

But wait......apparently the mortgage lender has filed to rescind the sale and a new sale date has been set for October (also confirmed by public trustee's office).

The law firm handling the foreclosure for the lender claims to not know why the sale was rescinded.

Any thoughts on why that may have occurred?

[justbroke]

Procedural issues. For example, if they didn't file a substitute Trustee notice prior to commencement of the foreclosure action (Power of Sale), then the sale is void. Better to be safe than sorry and get the paperwork correct the second time.

The law firm should know precisely why it was rescinded, unless it's a "new" law firm handling the new foreclosure (Power of Sale). But I'm sure if it was the original law firm, they wouldn't want to admit to any paperwork issues.

[footballfan]

Thanks for the info. Just want to wash my hands of the whole thing and move on.

[footballfan]

Update --

So the sale was rescheduled again! The house is vacant and I was over there this past weekend taking care of a Weed Nuisance code violation in the alley (I didn't want to get fined, but also wondered if they would place a lien on the property and would that give my mortgage holder a headache?).

I didn't attempt to go inside and was thinking I probably couldn't anyway -- the gates have been padlocked, the back yard mowed, and there is a notice posted inside the front window as well as the blinds have been pulled up.

I really do just want to be done with this. Home insurance is cancelling due to the vacant status effective 11/1. I just wish they would move on with this, but perhaps being an FHA insured loan, they are milking it for all it's worth?

legally the house is still mine. Is there anything I can do that would "persuade" them to just foreclose on the dang thing already? It irks me that they have secured and winterized the thing, but are not following through with the scheduled sales.

Advice, words of wisdom, condolences, scoldings -- I'll take anything right now -- let me have it!

Thanks in advance!

[justbroke]

There is absolutely nothing to persuade them. You can't even force them to do so. You could short sell it or offer a deed in lieu, but those can take time.

[footballfan]

Deep down I know it's just a waiting game. Still is frustrating though

[justbroke]

I surrendered one of my investment properties during my bankruptcy. It still took them over a YEAR to complete the sale. I suppose it's just business to them.

[footballfan]

Perhaps I'm suffering from premature relocation..... Oh the money I could have saved!

[footballfan]

Anybody know what is done when the mortgage company "secures and winterizes" a home?

I ask because we had our first snowfall today, and with the foreclosure sale being postponed until late this month (and probably again, and again, and again), I don't want any pipes bursting.

Thanks!

[justbroke]

Winterization typically means turning off the water, draining all pipes in the home, and other countermeasures to prevent damage from frozen pipes and/or other water sources (like water heater, toilets, etc). Secured means that they change the locks and insure that all the windows and entry points are locked.

They typically hire companies that do this as a service for lenders.