ejection notice

I'm sorry to hear of your situation. Hoping it will work out for you.
Some more info would be helpful in getting the advice you're looking for. Do you mean that the property sold at auction? Do you have a redemption period before the confirmation hearing? Would you have a way to make the back payments if that opportunity exists?

Rina

I am SO sorry to hear that. Who did they sell it to? Was it a short sale? Or did it go to auction? If it was a short sale, maybe you can contact the owner and work out renting it back from them. If not then I don't think you can do anything else at this point, correct me if I'm wrong anyone. PLEASE, let me be wrong... Again, I'm sorry that this happened to you.
God bless you,

Yes it sold back to the bank, the bank is now trying to remove me so they could put it on the market. not sure about a redemption period, but i think it might be to late? no extra income at this time that's why i am trying this to see if it a viaible option to add income and help me out of this hole.

thanks for your advice.

Flipdogs

Thanks, I think the bank, and it was not a short sale...I looked into the short myself with someone who said they could prevent a foreclouser but now i am at this point. i would like to learn more about this system so i can start adding additional income to prevent this in the futrue.

Thanks
Flipdogs

On July 23, 2008, the Senate passed the bill on the Housing and Economic Recovery Act of 2008. This bill is created to help home owners that have found themselves in your sitution. FHA will do a refinance on an existing loan to help you keep your home. I would contact a FHS lender and talk about your options.

Correction, I meant to say contact a FHA lender and refer to the Housing Recovery Act. Hope this helps

Thanks i will check into it

where do you find contacts for investment groups for this situation?

Sounds like you want to live in your house again. You know you will have to move out and store or sell your stuff so I'm wondering if you really want that house back.... if so try running an ad that says. I want my house back!.Buy it as a REO and I will lease it from you until I can buy it back! (or say what you think it would take to catch an investors eye.) Remember investors like to make something on the deal. That's why their called "investors". Remember Anything's Possible!!!!

That's a really good idea jrgnsn! Thanks for sharing that with us.
God bless you,

Just looking at it from the other side, using the opposite strategy.
Advertising your situation. Might just be the answer, jrgnsn.

Rina

thanks for the advise jrgnsn
now where is a good place to run an add like that?

flipdogs

When you put a bunch of creative minds together its amazing the ideas and solutions that come up! Flipdogs - I wish you the best of luck in getting your house back. As far as where to put the ads - everywhere you can! Newspapers in FSBO sections, flyers on grocery store bulletin boards, any public place you can that will catch peoples eyes...and dont forget craigs list and backpage.com - both free advertising websites with real estate sections. You can then steer the interested investors to the bank before it goes on the market.
God Bless and good luck!
Laura

Laura has many great solutons to try. Also you should contact the bank and find out your statis. If you don't want to , get a RE agent who does REO's and shortsales, and get her to speak in your behalf after she markets your house with a buy/ lease back option to investors. This is what investors are looking for. Good Luck!

might be a good idea for you.. you could pay less money for it and therefore have a lower payment. Don't wait until it's too late.. Take action now and keep us informed.

thanks all, it all sounds great, lot of hard work ahead me. and i will keep you posted.

flipdogs

I'm also sorry to hear of your situation.
In this market where property is depresiating, is the house worth retreiving?
When you default on your mortgage, this is a mortgage foreclosure. There will be no redemption period. A redemption period exists with a Tax Foreclosure.
If your property has already gone to auction and it wasn't sold (or even if it is) the property now belongs to the bank. If you are still in the property, they will have the police department serve you with papers stating if you don't vacate the property within 30 days, they will force you to leave.