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gilgirl61

Judgment after Foreclosure?

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Sorry posted originally in wrong section...We were in foreclosure primary residence in Indiana - owed $118,000 plus fees, penalties totaling $135,000 - we had a short sale offer of $125,000 - the mortgage company refused and told realtor they wanted $155,000 as we had an appraisal on the home for $195,000 within past 6 months. So foreclosure in 9/2008 and sold house for $92,055 in 4/2009 and sued us for judgement balance of $27,000+. If mortgage co. had not turned down $125,000 on short sale they would have made more than the sale price plus what they are suing us for - wage garnishment. Can we ask for court to dismiss judgement as mort. co. refused to approve short sale? And in fact stated they would not approve sale for less than $153,000? Help this is killing us - we lost home, equity $75,000 and now are paying close to $30,000 for a home we do not live in!!?? Thanks

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gilgirl61 5:21 AM

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Ok sorry - primary residence. Home was not listed as short sale was listed for $179,000 for 12 months - no offers. $17,000 was in payments not made and legal fees for mortgage holder - based on what they said we owed them. This happened when market bottomed out. Not sure in Indiana what appeal time frame is? We received judgment after house sale... as part of original foreclosure per mortgage company. So you ask what I want folks to say? I just want information on if any one has been in my shoes, fought back, is it possible to fight back? What tactic to use to fight back on if there may be one? But based on your remarks it is probably a done deal and because we did not have or locate the correct legal resources we are stuck or need to look at a Bk to try and handle. I guess if that is the only possible recourse then I will look into that. Thanks.

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Not sure where my response went; perhaps it remains with original post on the other thread.

"Home was not listed as short sale was listed for $179,000 for 12 months - no offers."

I have no idea if you used a realtor, but only a moronic one would allow you to list the property for that long without any price adjustments. If you didn't get an offer within a month or so, that's a clue that the price was far too high.

"We received judgment after house sale... as part of original foreclosure per mortgage company."

You don't mention being sued, so I gather loan docs had confessed judgment language in them. If so, when you received paperwork about a confessed judgment being filed, you should have sought local counsel to file a response -- perhaps to ask that the court open or vacate the judgment and address issues with regard to amounts.

"I just want information on if any one has been in my shoes, fought back, is it possible to fight back?"

This isn't really a forum for folks in the same boat though; it's get general feedback and info on legal issues.

"What tactic to use to fight back on if there may be one?"

We cannot know from here; it may be that you are too late to address the issue of the amount of the judgment. You'd have to seek local counsel to review the situation.

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Is there any hope of my recovering equity in my foreclosed home.  7/7/18 Regions Mortgage sold home to Fannie Mae for 93,000 (owed balance) and is now listed for 185,500. I was under the impression that 2 were kind of like " one in the same".

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58 minutes ago, Jerri said:

Is there any hope of my recovering equity in my foreclosed home.

 

Not sure why you tagged this on to a 9+ year old thread, but how could anyone here possibly know?  I suggest you start your own thread and provide relevant facts.

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Possibly because I was unfamiliar with the site being it was first time I used it. However the post I read referred to foreclosure and judgements which would be in the same ballpark. I suggest you not be such a s_ _ _ _ a_ _!!!!! People may be going through sensitive issues. Thank You

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