Foreclosure in Burnsville>Question Details

Jcurtiss, Home Seller in Burnsville, MN

Due to mental illness I did not talk to the bank before the sheriff sale. What options or exception do I have to keep my home.?

Asked by Jcurtiss, Burnsville, MN Fri Mar 5, 2010

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Sorry you are going through this; you are not alone. I agree with the agents that responded about talking to a lawyer might be good - if you can get a free consultation. Unless you are able to redeem your home (mortgage balance plus fees) soon your only option may be to pursue a short sale and depending on the rest of your credit you may be able to get into another home soon. The least favorable action would be to do nothing and let it go to foreclosure. As a Certified Distressed Property Expert, I can answer questions about the process needed to sell your home and would refer you to a law firm that is trusted in these matters to negotiate with the bank. You can contact me with questions if you wish, I'd be happy to help.
0 votes Thank Flag Link Sat Mar 6, 2010

In addition to contacting the attorney, it might not also hurt to contact the bank and see if you can find someone with a heart working there. Keep in mind that you will be talking to a debt collector, so I would recommend the less is more approach when it comes to giving out personal information.

I am sure that the bank has sent you something with a phone number on it. Give it a call and see if after explaining your situation, if there isn't something that the bank can do for you.

Cameron Piper
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0 votes Thank Flag Link Fri Mar 5, 2010
I agree with others previously, at this point a real estate attorney is your only way to go. However, if you do not have the money to get your house back, in my opinion it would not be wise to go to addtional expense of hiring an attorney because in my experience banks just really don't care, it is pay or move. If you do not have the money perhaps focus on getting well would be better time spent.

Best of Luck!
0 votes Thank Flag Link Fri Mar 5, 2010
I dont think there is anything that would give you different legal rights due to a mental illness, I would speak with an attorney to confirm that. You always have the opportunity to pay off what is owed (bid plus interest and fees) and then you can keep your house, this must be done within the 6 month redemption period.
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0 votes Thank Flag Link Fri Mar 5, 2010
Completely agree with those that have commented before me, you must contact a real estate attorney for advise on this question - and one that has specific experience with foreclosures.

Good luck,
Jeanne Feenick
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0 votes Thank Flag Link Fri Mar 5, 2010
Contact an attorney. If the sale has already happened, you can redeem it by paying the bid price, and penalties. Good luck.
0 votes Thank Flag Link Fri Mar 5, 2010
WIthout knowing if there are any specific laws that protect the homeowner such as a right of redemtion after the sale, your best bet is to check with a real estate attorney in your area. Once teh sale takes place your oppurtunities and rights are diminished. Ones best bet to save their house is always to talk to the bank, call and ask for home retention, they can go over your scenario and let you know what programs they have to assist you in staying in your house. Good luck working things out
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0 votes Thank Flag Link Fri Mar 5, 2010
With proper medical paperwork, etc., an attorney will best advise you as to all your options.
0 votes Thank Flag Link Fri Mar 5, 2010
Ralph is right - you need to speak to an attorney regarding your options. The Minnesota Home Ownership Center might be able to give you referrals to someone who could help - they are a group of non-profit housing counselors... good people.
0 votes Thank Flag Link Fri Mar 5, 2010
It would appear that the only way to stop the sheriff sale would be to get a court order to stop it. I would suggest speaking to an attorney to see what your options are. Good luck to you.
0 votes Thank Flag Link Fri Mar 5, 2010
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