Update on Sale

[BassBoy]

This is a continuance of the thread I started last summer (http://bkforum.com/showthread.php?t=9863), but rather than bump and old thread, I'll post a new one.

As most of you know, our house went up for Sheriff's Sale this morning. Out of curiousity, I checked the Sheriff's website and the house sold. Ironically, our lender, Countrywide bought the home. It was sold for $102K (2/3 appraised value @ $153K). Now it's a matter of watching the county records within the next month to see when the title transfers and rid myself of this.

DO NOT feel bad/sad for me folks. I'm quite happy to have rid myself of the house.

[HHM]

That is what usually happens, more often than not, the lender is the one that buys the house at auction. It should only be a matter of days before the deed is filed.

[OutOfMyMind]

Almost the same thing happened to us last week. Exception, it was a commerical building instead of our home. The bank also bought at 2/3 appraisal. We had it listed with a realtor for sale. We tried to call him to cancel the listing but he won't return our calls.

[SinkingFast]

Well, BB. I hope the Deed/Title changes hands quickly so you can put an end to this saga in your life. It's like a string, tying you to the past, not allowing you to move forward.

Maybe now that the house sold for way less than it's worth, your Trustee will close your BK too!!

[BK'd-Betty]

Congrats BaseBoy! What a relief that must be!!

When the BK Judge lifted the stay on our house so the Lender could foreclose, the wording of the lift specifically states that the Trustee retains any and all interest in "surplus" monies resulting from the sale, and our case was closed - guess the Judge was trying to cover the Trustee's butt.

GAWD, I'd love to send him a boxful of smoldering ashes! Here's your surplus baby! ROFL!

Anyway, glad you got that monkey off your back BaseBoy - welcome to the next chapter in your new start!

[BassBoy]

Thanks everyone.

I feel good today. I've had this house thingy in the back of my mind for over a year now, and I guess it was weighing on me more than I thought. Now that I've gone over this hurdle, I feel that there is some closure.

Thanks again to everyone!