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Originally posted by greenovni
They can also have the mortgage bank locate the NOTE (Which I BET you they don't have)
Originally posted by Skewed
reply to post by pityocamptes
Funny you mention that. Their house is in need of some repair and is in a little rough shape and they received a letter from the city stating that they must repair it or the city will freeze the property until it is fixed before it can be sold and transferred.
They sent a reply to the effect of they would like to repair the house and explained that they could not afford to fix the house and that foreclosure proceedings have been filed. And said they would probably end up losing the house and it just did not make sense to repair something they were ultimately going to lose as it was. They also went on to explain that the suspicious timing of the letter from the city made it appear to be instigated by the mortgage company to get them to repair the house before it was foreclosed on. So, by now I am assuming the city has froze their property due to them not making the repairs. I wonder what kind of situation that leaves the mortgage company in. It seems that maybe the city could be in someways protecting them.
Does the sheriff(or whomever) actually deliver an eviction notice or do they have the opportunity to go to court and let a judge decide with all parties present and everyone giving their side of the story?edit on 23-6-2011 by Skewed because: (no reason given)
Originally posted by pityocamptes
He also said that what he has heard through the grapevine is that the feds are going to dump shadow inventory here soon as freddie and fannie can no longer afford the property or bailout the banks via home receivership.