Foreclosure in 95762>Question Details

Ocoa000, Home Owner in 95776

my house was forclosed for the same amount I owe. what does that means?

Asked by Ocoa000, 95776 Wed Feb 23, 2011

My home went into forclosure last month. I went to public records and the deed upon sales says that the unpaid debt was 14ok and the condideration is 140k what does that means? does it means that the house was forclosed for the same amount I owe???

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Answers

4
The lender put a minimum bid on the sale equal to the amonunt of your remaining obligation to protect their interest. No bidders elected to go higher so the property reverts to the bank. They will now sell it as an REO sale.

Jack Dalton / jackdalton@golyon.com
916 425 6555
0 votes Thank Flag Link Thu Feb 24, 2011
Dear Ocoa000,

The best way to know for sure is to allow a professional Realtor review the information in the public records for you, however that means I need more information from you, as in address of the property, your name, etc. I'm not sure how far you want to take this, but if you are interested in my help, email me and I will do some footwork for you!

You are not alone in this process for what that is worth. Being well informed is your best protection.

Here to help,
Debra Johnson
debrajohnson@golyon.com
916-761-9714
0 votes Thank Flag Link Wed Feb 23, 2011
Dear Ocoa, That is what it sounds like. I don't know where you are pulling your information from but you want to check the Trustee's Deed which is a recorded document that provides constructive notice to the public that the home was sold at a trustee's sale on a certain date. It will state the name of who the property transferred to and the amount paid.

If your home was not sold to a 3rd party then it likely reverted back to the beneficiary or the holder of your note. In that case the outstanding debt owed would be the approximately the same amount that the bank would be taking the property back at.

If I can help you find out more details, please feel free to let me know and I'll do whatever I can. No obligation. Take care and I am sorry for your loss. Good luck in the future.

Diane Wheatley, Broker
diane@moveupproperties.com
0 votes Thank Flag Link Wed Feb 23, 2011
Sorry about your loss.
If you would like to email me, I can look up the transaction for you
and explain the details and amounts to you. It is difficult to give an exact answer
without seeing the entire transaction.

callmichelepeterson@gmail.com

Happy to help you answer these questions and any others.

Michele
0 votes Thank Flag Link Wed Feb 23, 2011
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