Typically not. The foreclosure is based off a secured asset, The Home. The bank has no standing to go after the home not in foreclosure.
What you need to do is determine if your loan (that is being foreclosed upon) was it securitized? Through a securitization audit and a mortgage scene investigation you can identify any irregularities in the foreclosure process. Many times we find that the Deed of Trust was assigned after a Notice of Default. And, that alone is a tail-tail sign that the loan was improperly placed into that trust and the parties involved are trying to now reunite the Deed and the Note in the attempt to cove there paper trail. Only a securitization audit can unwind the trust and the parties involved and determine how the loan was securitized and what really happen. The point I like to focus in on is the State Laws in which a trust must adhere to. If the Trust is administered in the State of New York (which about 90% are) then the Trust has to Adhere to that state's Common Trust Laws. Many want to argue that UCC Article 3 and Article 9 cover that issue but Common Trust Law trumps UCC 3 and 9.
Robo-signing is another major element to the Foreclosure crisis and if youâ€™re in a Trust Deed state; the chances that you can unwind this fraud is unlikely unless you step in front of the Lender and try to protect yourself. Contact me if you would like to have your situation discussed. My name is Brian Head and I am the Chief Auditor at Lighthouse Consulting Group in Santa Ana. I'd be glad to discuss your situation
I can be reached at either 800 529-2959 ext 1002 or 714 486-0652