The Bank bought my house at Sheriff Sale

The bank paid the deposit?







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1 star

A lock will be put on the door and a sticker affixed to the door, or front window and all contents in the home at that time these things happen belong to the bank, also you will be givin a trespass warning. Could be this morning when this takes place, could be monday??? One things for sure...Not much time now.

No way! I plan on staying at least 3 months...
They have 30 days to pay the remaining balance and then they will file for the deed.. which may take a month... and my deed is not clean! The only way to
get me out is an eviction which could take months...

They can't touch my stuff until I am evicted..so I say 3 months

The bank bought it from itself? That is strange?

Or do you mean another bank bought it from your lender?

Laws vary from state to state. In most cases the ad/notice of sale placed in the newspaper is due service

You dont know much do you?


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1/2 star if I could.

the forclosure sale is open to the public, almost always the bank is the higest bidder(they only have to pay there selves) the debtor is responsable for the rest of the difference.

The bank bid its position. Did not put down a deposit. The only deposit is going to be from the OP with his 1st, last and sec.

Opie, I would load up as much as I could in my car tonite. You know stuff you need/want the most.

Its a good thing you can't vote more than 10 times a day... This is reasonable at the average and crap at the very least.

OOOkay! I have emailed my sherrifs dept and they give me the info..
you are only trying to scare me.. they don't padlock you fool


to other poster..
What is due service? When the deed is tranferred?

Not going to be cheap or easy now his credit is shot.


Run Opie, Run!!

Due Service = notice the property is to be sold on such and such day = after that sale Opie has no claim to the house.
mk?

You should have got a notice 30 -60 days ago before it went to the court house steps.

The Bank is listed as the buyer.. My bank.. they paid the sale price (opening bid)
$82,000
they put down the deposit $6250..

its a good thing, I think.. its not like they are anxious to move in... they have to dump it on some property mangement or something

Opie will soon find out. The samething happened to the house nextdoor to me and within 5 days after to sale the bank had contractors putting in new carpet, and all other kinds of stuff.

All I can say is GOD BLESS YOU.

What's it worth on the market?

They bought the house, not your stuff.

Geez... why did i start this thread... they can not boot me out just yet... the deed must be transferred... these jokers are gonna try to get me to buy it back.
this a process.. they have to evict me thru the courts!

maybe $120,000 there is also a $11,000 lien on the property for 2nd mortage

Thank-you!
everyone is flipping out...I knew it was coming... I have no many saved..
i have time! I will keep in touch with what is going on! They are not throwing
my out yet..They need a writ of possession... this thing takes a while..especially
with lawyers and such

Who else would buy it, unless you came in and paid it off in gold or silver?

In some states, there is a redemption period. Where I live, it is 365 days from the point of foreclosure. But if you owe $100,000 on your home, and are unable to keep it from going into foreclosure, then odds are that in 1 years time, you'll not have the $100,000 to redeem it.

OP don't be silly it does not take them long to throw you out at all it just depends on how quickly they want it done.
If they are lazy and couldn't care then 30 days.
But honestly they could have you out tomorrow if they really wanted to.

after you leave i would burn the place down

How long you have depends upon where you live. You should be able to get free or low cost legal assistance. Sometimes it is easier to let go of the past and start fresh. I hope everything turns out well for you.

Laws vary state to state, I think. I don't know, OP. If I were in your situation I'd pack up all the good stuff in life; Important documents, pictures, family movies, and get them stored away in a safe location. That's how I roll. I'd much rather err on the side of caution than leave things to chance.

In any case, I wish you much luck. Too many Americans are in the same predicament.

I'm not sure about the 3 months thing - however hopefully you will get enough time to formulate a plan. Life has taught me it's foolish and short sighted to count on anything pertaining to BANKS.

And even if you do get three more months, that puts your move out date right in the middle of November/The Holidays.

That's the worst time of year to ask anyone for moving help because everyone is busy doing family stuff in preparation for the holidays. To add more shit to the pile, November's weather is cold, wet and all around miserable.

Just my 2 bits. The good news is you'll survive and get through this bump in the road. Take care.
XLR8

Last Edited by XLR8 on 08/15/2009 02:38 AM

OP,

You need to do a serious internet search for your state...like now.

There will be plenty of other people who have/are been in the same situation and there are ways to delay this for quite a few months.

I hope something works out for you.

I sincerely hope this is helpful information for you, OP.

For Example: Here Are Ohio Laws:


[link to www.foreclosure.com]

How long does it take to foreclose a property in Ohio?

Depending on the court schedule, it usually takes approximately 150-180 days to effectuate an uncontested foreclosure. This process may be delayed if the borrower contests the action, seeks delays and adjournments of hearings, or files for bankruptcy.

In order to effectuate a foreclosure in Ohio, the following procedures must be followed:

1. A foreclosure complaint is filed in county court where the defendant has 28 days to file an answer otherwise a default judgment is entered. If an Answer is filed the case is adjudicated by summary judgment or trial. Once adjudicated a foreclosure decree is entered and the sheriff is directed to sell the property by foreclosure sale.

2. Three disinterested freeholders must provide an appraisal or estimate of the value of the property being foreclosed. The property cannot be offered for less than 2/3 of the appraisal or appraisement as it is commonly known.

3. The foreclosure sale must be advertised thirty (30) days in advance of the sale and such advertisement must occur once per week for three (3) consecutive weeks before the sale.

4. The Sheriff handles foreclosure sales in Ohio and these sales take place at the county courthouse. After the sale the sheriff will return a writ of execution indicating the sale has taken place and the court will determine if the sale has been undertaken legally which is called a confirmation. Once a confirmation takes place any right of redemption is extinguished and a deed is issued to the purchaser.


Is there a right of redemption in Ohio?

Ohio has a statutory right of redemption, which allows a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs. There is a time limit to undertake such redemption which must occur before confirmation of the of the foreclosure sale by the county court.


Are deficiency judgments permitted in Ohio?

Yes. A deficiency judgment may be obtained when a property in foreclosure is sold at a public sale for less than the loan amount which the underlying mortgage secures. This means that the borrower still owes the lender for the difference between what the property sold for at auction and the amount of the original loan. There is a two (2) year limit on the enforceability of any deficiency judgment unless the borrower agrees in writing to extend the time to enforce the same.

What statutes govern Ohio foreclosures?

The laws that govern Ohio foreclosures are found in §2323.07 of Ohio Revised Code.

[link to onlinedocs.andersonpublishing.com]


Last Edited by XLR8 on 08/15/2009 02:55 AM

Thanks XLR8 I am in Ohio.