foreclosure of property - Posted by Teresa Warner

Posted by JT-IN on January 13, 2002 at 20:15:35:


“I want to save the property due to the fact I have a lein on the house.”

As a lien holder, you can protect your interest in the property, by responding to the suit stating your interest, and by bidding on the property at the sale. to protect any equity that you possess, or if you are outbid, then your lien will be satisfied, if the price paid, covers that amount.

However, you actually have several issues to be concerned with here. The fact your name is on the note, you are a party to this foreclosure, as the lender will be pursuing you for the unpaid balance, as
well as your X. This could also involve an amount for a deficiency judgement, if the lender is not totally satisfied in full.

Depending upon what the status of your X husband is, and whether he will give you a POA to discuss with the lender, will detemine the lenders cooperation with you, on this matter. You did not mention whether the X is still occupying the property, or what his status and desire for the property is.

If you had complete cooperation form the X, you could contact the lender to try to work out a short sale, or several other options that could be favorable to you. Without his cooperation, you can pretty much forget about working with the lender.

There is too much detail that you left out, pertaining to the situation, to give more specifics here. I fyou cna detail exactly what is happening, amount owed, how many pymts back, what your lien is and how much, X’s status and level of cooperation, etc. etc., then it may be possible to assist in this matter.


foreclosure of property - Posted by Teresa Warner

Posted by Teresa Warner on January 13, 2002 at 19:42:29:

My name is on the promisary note to a house I purchased with my ex husband several years ago. The house is going into foreclosure and I want to save the property due to the fact I have a lein on the house. I have hired a laywer to help with my side of this but, I am not sure if he is directing me in the right direction. The house is 1800sq ft. approx $115k appraisal value. Can you make any suggestions has to how I can go about getting the property without getting a loan for the entire amount owed to the mortage company and lawyers to this point?

I do not live in Florida so I’m sure I will have alot of issues that will need to be addressed. I do not have the foreclosure date as of today. We are stalling for time.

Can you help me?

Thank you,

Teresa Warner