house & foreclosure

Discussion in 'The Watercooler' started by klmno, Aug 23, 2010.

  1. klmno

    klmno Active Member

    Apparently no one bought it at the foreclosure sell so now the bank is in a real pickle. What do they do in circumstances like that?
  2. ctmom05

    ctmom05 Member

    This is the easy answer - your bank ought to have that info for you. I imagine there are variables in how such a situation is handled.
    An attorney may be able to shed some light on what you are facing, without charging for a consultation.
  3. klmno

    klmno Active Member

    OK, I rec'd a notice of sorts from a real estate company saying they are going to manage the property. They said I might get some money to help move if I leave the house "broom clean". I know very well what broom clean means in a new building or one in decent shape, but have no idea what it means in a house like this. If that means they would need it in move-in condition, it can't happen. The house has massive damage to doors and walls- difficult child, you know- a sink that won't drain (we have 2.5 baths so this was not a big deal lately), carpets in horrible shape because it was horrible when I moved in 4 years ago and had planned to have it replaced before difficult child-dom took over my life and exhausted my finances.

    Now, if they will give me at least part of the money up front and just have me commit in writing to a date to be out with all my stuff out, then I should be able to do that. But they can forget me making these repairs- they don't even know what kind of damage it has to it on the inside.
  4. flutterby

    flutterby Fly away!

    That's a new one on me. Around here, before the credit crisis at least (don't know if it's changed), the banks that owned the mortgage were the ones buying them at the sheriff's sale.