How is this possible ?

This is a discussion on How is this possible ? within the Real Estate and Property Law Questions forums, part of the Legal Questions & Answers Forum category; Is it legal for a mortgage company to sale your house right from under your feet if you are behind on your mortgage and then finally get caught up on ...

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  1. #1
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    How is this possible ?

    Is it legal for a mortgage company to sale your house right from under your feet if you are behind on your mortgage and then finally get caught up on it ? Is there something we can do to get our house back instead of renting it from the new buyers ? The loan was under modification and the mortgage company still sold the house from under our feet. Is this legal?


  2. #2
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    It is hard to tell whether the mortgage company acted properly given the information you in your post. Generally mortgage companies hire forclosure attorneys to carry out the necessary steps to get title back in its name (forclose). These attorneys usually, but not always, follow the proceedures necessary in order to accomplish this. The proceedure usually requires notice to you and an opportunity to cure your arrearage. The notices are governed by statute, and if they are followed, have the legal effect of transferring title into the mortgage company's name. It is likely that they did follow the proper proceedure, and the only legal right you have to the property is that of a tennant at sufferance. It may be that the mortgage company's attorney failed to follow the proper proceedures. If so you would need to contact and attorny in your jurisdiction who represents mortgageors. It may be possible to reverse the forclosure.
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  3. #3
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    I think it depends on how you are make the agreement to the company and what kind of terms and conditions would apply if you are have to face this type of situations.

  4. #4
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    It is not so much simple to say that they can , there are various kind of legal hurdles that can resist them.