Question by lovezeuser: In Virginia, are you notified in writing that your house has been issued an auction date for foreclosure?
My brother had major medical bills in 2007 and 2008. He got behind on his bills and filed bankruptcy in Oct. 2008. His mortgage was not part of his bankruptcy. For reasons I don’t understand, he stopped paying his mortgage because he “could not afford it”. In January he was released from the bankruptcy and he still didn’t pay his mortgage. He got a letter two weeks ago saying his home was in foreclosure. He called the mortgage company and he doesn’t qualify for any of the new government programs because of the bankruptcy. He says because of his health insurance premium ($ 900 a month) and other expenses, he can’t afford to pay his mortgage each month. So, even if I helped him catch up on his payments, he could not make a monthly payment. The mortgage company told him that because of the bankruptcy he is not legally liable for the mortgage anymore but he is responsible for the lien. What does that mean? The mortgage company has set an auction date of April 22nd. But, he thought all this had to go through a court which would give him more time. The mortgage company said they don’t have to notify him of the sale or go to court to establish an Auction date. I don’t even know where to start to help him. Where can he go for help? Thank you!
Answer by cin_ann_43 Best thing to do is talk with his lawyer who helped with the bankruptcy claim
Know better? Leave your own answer in the comments!
www.andyhubba.com for complete details and to search the entire Norfolk Virginia and surrounding cities MLS. For auction details on this foreclosure online auction property please visit http all of the info you need to submit a bid for the auction is available there. Video Rating: 0 / 5
Foreclosure Angel A woman buys a stranger’s foreclosed home… and gives it back to her. If you want to know more about this angel contact her on facebook and send her a message here: www.facebook.com Marilyn Mock Says ‘People Need to Help Each Other’ By JONANN BRADY Tracy Pottsboro lost her job and then her home when she couldn’t make mortgage payments. On Saturday, she watched as her home was auctioned off in Dallas. “The final farewell to my house,” Pottsboro said. “It means so much to all of us. It’s not just a house.” Auctions on foreclosed houses are an opportunity for some and agony for those who’ve lost their homes. From July through September of this year, more than 2700 Americans lost their homes to foreclosure every day, according to The Associated Press. In Texas, almost 9200 homes entered the foreclosure process in September. On Saturday, Pottsboro took her seat among the crowd, waiting for house No. 73 to be called. Marilyn Mock, a small-business owner from Rockwall, Texas, had accompanied her son, who was interested in buying a house, to the auction that day. Mock was sitting near Pottsboro and noticed that she was upset. “She was crying, and I asked her what is she upset about, and you know, she lost her house,” Mock said. When the No. 73 came up and the auction began, Mock said she asked Pottsboro, “Is it worth it?” “She said yes. & I just kept taking her word,” Mock said. Mock ended up winning the auction, with a bid of about 000. And just like that …
so many people have been affected by our banking system’s financial meltdown, there is now a need for alternative financing. I met Corey Schwartz of Serinova financial. They are a licensed mortgage broker here in Arizona. They are private investors. So why are we talking about this? How many of you want to take advantage of foreclosure homes and buy at the auction? But you don’t have cash to close. The trick to buying at the auction is you have to pay cash. Corey and Serinova will finance you for a Foreclosure purchase at the auction. That is not all they do. You may want to buy a Short Sale or Foreclosure home on the regular market. Buy it fix it up and flip the home. Serinova will finance this type of investment too. Another group, for people that just went through a Short Sale or even a Foreclosure. You no longer have to wait 2 years for a Short Sale or 5 years for a Foreclosure to buy another home. You can buy today with Corey’s group at Serinova. This is exciting that these types of financing venues are available. Corey can be reached at 602-739-7060 and you can find out more about this company at www.Serinova.net Just my opinion…Jeff Cameron Scottsdale McDowell Mountain Ranch Realtor specializing in Short Sale and Foreclosure homes keeping you up to date on the real estate market! www.ArizonaBankDeals.com Looking to be a part of our Elite Buyer Group? www.arizonabankdeals.com Recorded on February 17, 2010 using a Flip Video camcorder.