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Foreclosure in Hamilton County : Real Estate Advice

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Activity 8
Sat Sep 10, 2016
Mcdanielpainting asked:
This question was asked from this property:
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Sun Feb 14, 2016
Pinklady385 asked:
Fri Oct 10, 2014
Shell Barger answered:
Hi. As Dan mentioned, pre-foreclosures are not necessarily the best deals. However, you can find a list of HUD foreclosed homes at I work the Noblesville market and can set you up on a search that will email you all of the foreclosed and short sale homes as they become available. Hope this helps! Shell ... more
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Thu Aug 28, 2014
Diane Christner answered:
The federal Protecting Tenants at Foreclosure ACT of 2009 provided that bona fide tenants who entered into a lease agreement before the foreclosure case was filed against the leased property are entitled to stay in the home until the end of the lease term, unless the purchaser of the property at foreclosure intends to use it as their primary residence - then they may termite the lease agreement with a 90 day notice.

The PTFA of 2009 also stated that all bona fide tenants with oral leases, month to month tenants and those entering into a lease agreement after a foreclosure case was filed are entitled to 90 days notice to vacate before they may be evicted from the property.

New clarification has been made regarding the definition of the term "notice of foreclosure" in the original legislation. The Dodd-Frank Act now defines the date of a notice of foreclosure as "the date on which complete title to a property is transferred to a successor entity or person as a result of an order of a court or pursuant to provisions in a mortgage, deed of trust or security deed."

According to legal sources, this means that tenants are now presumed to be protected by PFTA as long as they entered into the bona fide lease or tenancy before the new certificate of title was issued. Therefore, the "immediate successor of interest" (usually the bank) is required to honor the terms of the lease or tenancy as stated above.

The D-F act also extended the PTFA legislation's original expiration date of 12/31/2012 another 2 years to 12/31/2014.

If the property is in foreclosure but not yet foreclosed upon, I would suggest looking up the owner's name in the Clerk of Court records, find out the name of the attorney's office that is handling the foreclosure and notify them that you are a tenant in the property.

Good luck.
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Wed Feb 12, 2014
doodlecraft asked:
Our first mortgage was through a different company, and we modified it. The second mortgage was owned by another company, and bought the bigger mortgage. Since we were behind on second mortgage…
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Mon Feb 3, 2014
Mack McCoy answered:
Tue Feb 26, 2013
Mallorie Wilson answered:
There are options. In my experience, the lender required the owner to file for a loan modification. This paperwork can seem tedious but could prove well worth it, especially with your wishes to stay in the home. I'm unaware of your current status with the bank but let's say you're currently behind on payments. I had a client, who was behind and unable to pay the past due amounts; therefore, the lender tacked that past due amount onto the loan balance and adjusted the payments to a more affordable amount for my client.

If you'd like to stay in the property, this would be your best option. Have you been communicating directly with the loss and mitigation department? If so, they should have a fax number to send this paperwork directly to the lender. Let me know if I can be of assistance to you.

Mallorie Wilson
Associate Broker
Century 21 Diversified
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Mon Jul 19, 2010
Christie Robertson answered:
Hi Sameth, this house is currently for sale. It has been remodled and ready for someone to buy it and just move in and enjoy. This is a great neighborhood. When would you like to take a look at it? Call me today and we can schedule an appointment. It won't last long! You can reach me on my cell phone, 317.223.8015.

Christie Robertson
ERA Real Estate Links
4630 Lisborn Dr.
Carmel, IN 46033
CELL # - 317-223-8015
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