Foreclosure Property $$$$$$$$ - Posted by Nate

Posted by JohnBoy on July 19, 2001 at 21:37:32:

Yep, that explains it all right! LOL

Just curious on something?

What would happen if the property was foreclosed on with that kind of a mistake? Would the sale still stand up or could the owner come back and create problems because of that and end up dragging the process out longer forcing the lender to have to go back and start the process over somewhere along the line?

Foreclosure Property $$$$$$$$ - Posted by Nate

Posted by Nate on July 19, 2001 at 13:57:55:

Hi All

I went to the Assessor’s office the find out the pin # to this property, and he told me where to go the get the court documents. I did find out who the owner was. They are the original owners according to the papers. They have been trying to serve them since January, but to no success. The Property looks abandoned.

This is what’s on the Judgement of Foreclosure:

Unpaid Principal: 93,139.79
Accrued interest on unpaid principal to May 2, 2001 11,234.79
Advances by Plaintiff: 148.27
Late Charges: 437.87
Cost of Suit: 1,069.50
Plaintiff’s Attorney’s fees: 950.00

Is this what’s owed? -----------------------------/

How can I buy this property?


Re: Foreclosure Property $$$$$$$$ - Posted by JohnBoy

Posted by JohnBoy on July 19, 2001 at 14:18:29:

No, it’s $106,980.22 that is owed.

Either they made a mistake by leaving off the 0 after the 8 or you misread it.

Re: Foreclosure Property $$$$$$$$ - Posted by JT - IN (St. John, USVI)

Posted by JT - IN (St. John, USVI) on July 19, 2001 at 14:59:03:

I would guess that they left the zero (0) off, vs Nate misreading what is filed. You must remember that the filings are being done by “Attorneys”, and that should explain things.

I would venture that one third of the foreclosure filings that I see, have many errors contained, such as simple math, to many clerical errors, as is likely here. Especially when it comes down to the distribution amounts, which cannot total more than 100% of sale price, but invariably, they will not equal the amount of the sale. I have gotten so, that I do the calculations in advance, for the atty, to cross-check the figures, which saves re-submitting to the judge, numerous times. They are human, and are entitled to mistakes, but I see way too many errors, to pass this off as a rare incident.

My applogies, in advance, to all the “Competent Attorney"s”, here, and around the world!

Just the way that I view things…

JT - IN (from St. John, USVI)