Foreclosure in Riverwoods>Question Details

Vicky, Home Seller in USA, Mobile, AL

can I keep my name private in a forclosure process when lender wants to list in news paper the forclosure?

Asked by Vicky, USA, Mobile, AL Tue Nov 6, 2007

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Suzanne Kelly’s answer
Unfortunately, if you have reached the point of foreclosure, there is not much you can do to stop your name from being listed in the newspaper. If you still have time, contact the bank and talk to them. You might be able to negotiate a loan modification. If not, contact a reliable agent and list your property as a "short sale". The most important thing is to save your credit rating. It is like money in your pocket.
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0 votes Thank Flag Link Wed Nov 7, 2007
Vicky.. I'm afraid not.. First a deed is considered a public document .. second part of the foreclosure process requires the lender to post the notice of foreclosure in a newspaper for 21 days prior to the foreclosure taking place.
2 votes Thank Flag Link Tue Nov 6, 2007
Kaye Thomas, Real Estate Pro in Manhattan Beach, CA
As a public record document (deed of trust) it will be published during the process.
1 vote Thank Flag Link Tue Nov 6, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
nope. here comes your 15 minutes of fame.
1 vote Thank Flag Link Tue Nov 6, 2007
I suggest that you speak with an escrow officer and title officer to see if you have any options. I do not know the particulars of your locality. There are local customs that might help you, however be prepared to have "all revealed".

You may have the option of NOT having a FOR SALE sign in front of your home. Might be one of the few things you do have control over. You might also want to ask for approval of all advertising related to the sale, included printouts from the MLS.

Personally I think "seller desperate to sell", "seller will look at any offer" and similar verbiage is completely inappropriate and weakens your bargaining position.

Best of luck to you.
0 votes Thank Flag Link Tue Nov 6, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
Short answer- dont' own the property- you own the loan on it. But, only people looking at purchasing the foreclosure will know.
0 votes Thank Flag Link Tue Nov 6, 2007
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