Home Buying in Tyler>Question Details

Talisa, Other/Just Looking in 75766

how do you reclaim a repossed home?

Asked by Talisa, 75766 Thu Jul 1, 2010

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Was it due to not paying a mortgage or the taxes?
If you went through a foreclosure with the lender, my guess is that it is very tough if not near impossible.
They give you several chances to come current before they foreclose, so after foreclosure the loan is gone, the deed is changed, and they might not be willing to sell it back.
Foreclosure for failure to pay taxes is different. There is a redemption period. You would need to check with the county clerk...pay the back taxes and significant interest during the redemption period.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Thu Jul 1, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
Do you own the home? If yes foreclosure took place you need to follow the State of Texas Statues of the redemption period. THAT IS IF the home is located in Texas if in another state research those laws.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Thu Jul 1, 2010
I'm assuming its been foreclosed on and yes, it may be too late. I'd talk with a attorney or try the lender. It may be possible to do as a new purchase. You may have to go through another lender though in order to do that. If you have any other question's or need further assistance, don't hesitate to contact me directly.

Good luck!
Web Reference: http://www.angelakhill.com
0 votes Thank Flag Link Thu Jul 1, 2010
Once your home has been re-possessed, it may be too late to attempt to reclaim it.

This advice is a day late, and a dollar short... but you should consult a real estate attorney.
0 votes Thank Flag Link Thu Jul 1, 2010
Alan May, Real Estate Pro in Evanston, IL
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