Retain an attorney to assist. The attorney will have to analyze the case and see what is unpaid and what can be done with the bank. The only people who can negotiate with the bank are the people on the loan though, as they have the contractual relationship with the bank and their finances are what the bank looks at.
Disclaimer: I am a Florida attorney and licensed Realtor. Information posted or made available on or through this site is not intended as legal advice or to create an attorney-client relationship between you and any attorney/our firm until officially retained. You should consult an attorney for advice regarding your individual situation since every case is different and not all information is relayed in an online question.... more
I definitely would not recommend allowing your home to foreclose. The banks are doing a lot more for their customers that are upside down on their mortgage. I am a Certified Distressed Property Expert and can help you with your questions about foreclosure and short sales. Please contact me for further assistance. 772-480-4660... more
It is very legal. You signed a document stating that if you failed to meet your obligation to the bank, the bank has the right to foreclose on your home and force you off their property. We are sorry to hear that this has happened, this is why it is important to listen to the lawyer at closing.... more
Please send me more information about the price range and aspects of the home, number of bedrooms and type of construction. You can contact me at 772-643-5255 or my website is www.RealEstateOfVeroBeach.com
What you need is not an atty. What YOU need is a Realtor who knows how do to short sales. That is how you prevent foreclosure...AND if you are current on your payments, odds are good that you can get a full release from the lender! Interested, call us, we can help.
Debbie Albert, PA
Keller Williams of the Treasure Coast... more
Keep looking for a similar or better property while you wait for the Asset Manager to allow the sale. So was it the bank's title company that told you it was "good to go"? You might try contacting the closer at the title company that is handling the file to see if she has been informed by the foreclosing attorney that it can now be closed.
I would first of all say that no one should be providing you with advice who has not read the paperwork.
Second, I would ask to speak with the broker of your Realtor. They are responsible for the actions of their agents and should be able to provide advice.
Third, it sounds as though, depending upon where you are in the process, that you might be far enough along to have some negotiating leverage. This is where a good negotiator comes in...like the broker I mentioned earlier. Perhaps you can extend the escrow, allowing the bank to clear of the title question, rather than cancel.
Most of these foreclosures are going to proceed, one way or another, so because you already have invested time and money, an extension might prove to be workable.... more