MS Foreclosure – House was foreclosed on in Mississippi while working to straighten out late payments. Legal recourse?
June 4th, 2009 | by admin |There were two mortgages on the property. The 1st mortgage was behind one month and the 2nd mortage was behind several months. Onwer was working with the mortgage company to arrange payment plan. Apparently mortgage company dicided to foreclose while still working to resolve the late payments. Found out that house was foreclosed only when the buyer of the foreclosure asked family to vacate property. It appears that the morgage company may have been misleading them while putting the foreclosure in process. Is there any legal recourse that can be taken against the martgage company?
I think the person you're trying to help is "sugar-coating" the situation. It usually takes several months to foreclose on a house. They were probably at least 6 months behind on one or both mortgages. Forclosures require that a notice be posted on the house, and that the auciton is advertised in the newspaper of record…it should not have been a 'surprise'. You'll need an attorney to review the situation to find any recourse…if it exists.
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2 Responses to “MS Foreclosure – House was foreclosed on in Mississippi while working to straighten out late payments. Legal recourse?”
By KC on Jun 5, 2009 | Reply
I think the person you're trying to help is "sugar-coating" the situation. It usually takes several months to foreclose on a house. They were probably at least 6 months behind on one or both mortgages. Forclosures require that a notice be posted on the house, and that the auciton is advertised in the newspaper of record…it should not have been a 'surprise'. You'll need an attorney to review the situation to find any recourse…if it exists.
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By ogrendle on Jun 5, 2009 | Reply
You are not getting all the info. Foreclosure is NEVER a surprise. See the above answer
References :
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