Can I move back into a home facing foreclosure?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can I move back into a home facing foreclosure?
We stopped paying our mortgage and were locked out of our property 2 years ago. I still haven’t been served with any foreclosure papers and the property is not being cared for. The bank that holds the 2nd mortgage and is the only 1 that has contacted us in regards to the mortgage, is sending us loan modification form letters. The first mortgagee sold the mortgage to a bank in NY, which I’ve never heard of or from. My son moved back into the property and the police came by saying that they had a report that it is supposed to be vacant. Any idea what might happen next?
Asked on March 16, 2011 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Who owns the property? If you still own it--if it hasn't been foreclosed upon--you should have a right to reside in it, or let your son live there. It doesn't matter if it was facing foreclosure--until it's foreclosed, it's still yours.
On the other hand, if it has been foreclosed upon, then you and your son have no right to be there.
Foreclosure *must* be done properly, which includes providing notice and a chance to contest it. If the property was "foreclosed" without providing the proper notice or following other proper procedures, you may be able to overturn the foreclosure and even seek damages or compensation. Note that even if you stopped paying the mortgage, you can't be locked out until the home is foreclosed and you are properly evicted under the law--the bank can't simply change the locks on you without following proper legal procedure, and doing so can result in the bank beinig liable.
You should consult with a real estate attorney to help you determine current ownership and your rights and remedies. It is possible that you have recourse in this matter. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.