Okay, got some FC questions..........

[JusticeForAll]

Our house is in BK Foreclosure in a Judicial State.

This is my understanding of the foreclosure process:

Lender has lein against property. I don't pay, Lender sues. I don't answer suit, Lender proceeds to foreclosure.

======>BIG GREY AREA HERE I KNOW NOTHING ABOUT<=======

Auction day. Lender is usually high bidder. So Lender buys house and puts it into their REO to sell. Lender had 30 days to close after the auction.

What happens during the big grey area? When EXACTLY in this time line does my responsibility to the MONEY PIT stop?

Is it at closing (i.e. 30 days after the sale). Or does it happen prior to the auction?

It's my understand that the Sheriff's auction the house, not the Lender, and that the Sheriff's are ordered to do so by the court because of non-payment and law suit filed by Lender. But doesn't the Sheriff have to "seize" the property or the like (i.e. grab the title) or are the Sheriff's simply working from a court order?

????

[BassBoy]

My understanding is the deed is still in your name until after the sale. Then of course the buyer has to have the deed tranferred just like a normal sale. Then once that happens, you are no longer are responsible for the property, taxes and insurance. Even if the lender purchases it at Sheriff's Auction, the lender still has to transfer the deed. I don't see how the lender could sell property that doesn't legally belong to them.

[JusticeForAll]

so I gotta keep cutting the grass until approx 30 days after the sale when the Lender closes on the property?

yeah baby, I'm actually starting to enjoy writing checks to contractors!!!!!!!!! NOT!

[JusticeForAll]

One more question BassBoy, if I may...............

What if I don't cut the grass in the spring and the town fines me for not doing so. In the original letter they sent me, they said if I didn't do it, they would and would attach both the fine and the maint. fee to the house.

I assume this means a lien against the deed.

What will Lender do? Pay the lien obvioulsy, but will they come after me for it?

[BassBoy]

so I gotta keep cutting the grass until approx 30 days after the sale when the Lender closes on the property?

yeah baby, I'm actually starting to enjoy writing checks to contractors!!!!!!!!! NOT!

Most likely yes. You'll have to maintain the property until the entire deal is closed and your names are no longer on the deed.

It will not be much longer JFA. Winter is coming so you nor anyone else will not have to worry about mowing the lawn and what not. This will soon be over.

[JusticeForAll]

No, now I hafta pay for snow removal

Most likely yes. You'll have to maintain the property until the entire deal is closed and your names are no longer on the deed.

It will not be much longer JFA. Winter is coming so you nor anyone else will not have to worry about mowing the lawn and what not. This will soon be over.

[BassBoy]

One more question BassBoy, if I may...............

What if I don't cut the grass in the spring and the town fines me for not doing so. In the original letter they sent me, they said if I didn't do it, they would and would attach both the fine and the maint. fee to the house.

I assume this means a lien against the deed.

What will Lender do? Pay the lien obvioulsy, but will they come after me for it?

I have similar scenario, but not the lawn. I have to pay the association fee's or else the Association will file a judgement. Now, my understanding is that would a post petition debt, so you may be responsible for it. You may want to ask your BK atty about this.

[SinkingFast]

As you guys discussed earlier in the thread, I think your responsibility to the property ends at the end of the Redemption Period. If the Law says you have 30 days after the Sheriff's sale to Redeem the property, buy it back, then the Deed/Title won't change over to the Lender until after the Redemption period expires.