My parents are getting their house foreclosed on

[KingModem]

I just found out that my parents house is going up for auction as noted by the County officials in their town in South Dakota.

Bottom line, us kids want to find a way to save the house, and we are willing to put some money up to do it, problem was that they hadnt told us they were in such trouble until we found out when it was seemingly too late.

Anybody know a place to get a mediator that we can pay to get this mess straightened out so my parents don't go homeless?

Thanks in advance, to the RonFez.net family!

-cw:help:

[topless_mike]

is there a tax lien against the county or just not making mortgage payments?
i would call the county clerk and ask some questions, clearly explaining who you are.

maybe if you can catch up on the payments, they will forgo everything.

[djjd]

got no real suggestions, just want to wish you good luck, hope everything works out for your parents

[~Katja~]

it probably depends at what step in the foreclosure process they are... some options but they may be too late already

Ways to Stop Foreclosure

When the lender files a Notice of Default, your options are limited. That is why it is better for you to call your lender before falling behind on your payments, because lenders are often reluctant to work out repayment schedules after foreclosure proceedings have been commenced.

You will be given a certain time period to bring the payments current, pay the costs of filing the foreclosure and stop the foreclosure. This is called reinstatement of your loan. If you cannot make up the missed payments and the lender will not work with you, here are a few other options to stop foreclosure:

* Sell Your Home.
Interview real estate agents to get an opinion of market value and average DOM to sell your home. You might be tempted to hire a discount broker, but many sellers feel they need the exposure and marketing that full-service brokers offer. Compare both to determine which best meets your needs and time frame.

* Consider a Short Sale.
If your home is worth less than the amount you owe, you might be a candidate for a short sale. A short sale affects credit but it's not as bad as a foreclosure. You or your agent will need to negotiate with your lender to find out if the lender will cooperate on a short sale. This is called a pre-foreclosure redeemed.

* Sign a Deed-in-Lieu of Foreclosure
This is called deeding the home back to the lender. The homeowner give the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action. Lenders tell me that deeds-in-lieu of foreclosure affect credit the same as a foreclosure.

The lender might also work an arrangement where a home owner can remain in the home until finding a place to move into. Owners in default should negotiate the right to retain occupancy, arguing that if the lender followed through on the foreclosure, an owner would still enjoy the right of possession during that procedure.

also the laws are different by state.
what state are your parents in? Maybe it will help finding more info

[KingModem]

it probably depends at what step in the foreclosure process they are... some options but they may be too late already



also the laws are different by state.
what state are your parents in? Maybe it will help finding more info

The beautiful red state of South Dakota. I have also been contacting the local congresspeople to try to absolve this.

[boosterp]

Katja posted some great tips, I wish the best for your parents budday.

[Snoogans]

Join the PGA Tour and win the house back

[Hottub]

Snoogans. Remember where you are, ass.

Best of luck to you and your parents. Call anybody and everybody you can. There are a lot of people having to deal with this now. Someone has to have a sympathetic ear.

[Snoogans]

Oh fuck I didnt notice

[spoon]

Snoogans. Remember where you are, ass.

Best of luck to you and your parents. Call anybody and everybody you can. There are a lot of people having to deal with this now. Someone has to have a sympathetic ear.

And you should remember not to personally insult people, another rule if I do recall. You dumb cunt!

[spoon]

Ooops, forgot this :wink:

[~Katja~]

http://www.foreclosures.com/pages/state_laws2.asp?state=sd

http://stopforeclosure.com/South_Dakota_Foreclosure_Law.htm

http://www.thenorrisgroup.com/South-Dakota-foreclosure-laws.html

I hope you find a way to stop it before it is too late.
Good luck!

[spoon]

Oh and KM, if it's gotten this far the next move will be a tough one. You'll need someone to really back you with power bc it's almost a done deal. Sorry buddy, but you could buy the place back at half the cost if it all works out in the end. It's happened before, it just can't be your folks who buy it. People have cut what they owe in half that way, but the credit of your folks is going to be shit. Perhaps they can pay you back?

[Farmer Dave]

There was another time in this country when neighbors would gather around at a forced sale and intimidate outsiders into not bid on a property. Don't know if it will happen for your folks but I wish them and you the best of luck.

[angrymissy]

I just found out that my parents house is going up for auction as noted by the County officials in their town in South Dakota.

Bottom line, us kids want to find a way to save the house, and we are willing to put some money up to do it, problem was that they hadnt told us they were in such trouble until we found out when it was seemingly too late.

Anybody know a place to get a mediator that we can pay to get this mess straightened out so my parents don't go homeless?

Thanks in advance, to the RonFez.net family!

-cw:help:

That sucks. This happened to my Grandparents about 10 years ago. Like your parents, they didn't tell anyone! By the time they did, they were too far in the hole for their kids/grandkids to help. Shit, if we had all pitched in $2k we could have saved the house, but they were too proud to let anyone know shit was going down. Hope you can help them.

Is it being foreclosed on due to unpaid mortgage payments, or unpaid TAXES?

[Misteriosa]

NOW on PBS just did something about predatory lending on the elderly... they always seem to be just ahead of the curve...

<embed src="http://www.pbs.org/now/media_player/flvplayer1.swf" width="480" height="380" bgcolor="000000" allowfullscreen="true" allowscriptaccess="always" flashvars="file=http://www-tc.pbs.org/now/video/PBS-NOW1504V_480.flv&plugins=googlytics-1,embed-1"></embed>

[KingModem]

That sucks. This happened to my Grandparents about 10 years ago. Like your parents, they didn't tell anyone! By the time they did, they were too far in the hole for their kids/grandkids to help. Shit, if we had all pitched in $2k we could have saved the house, but they were too proud to let anyone know shit was going down. Hope you can help them.

Is it being foreclosed on due to unpaid mortgage payments, or unpaid TAXES?

I am assuming since WellsFargo is listed as the Plaintiff in the case, and it states that the Plantiff was awarded a judgement of 290K against the defendants, that means the court has ruled in favor of them.

The reason the auction is at the courthouse stairs doesnt make much sense to me...

[angrymissy]

I am assuming since WellsFargo is listed as the Plaintiff in the case, and it states that the Plantiff was awarded a judgement of 290K against the defendants, that means the court has ruled in favor of them.

The reason the auction is at the courthouse stairs doesnt make much sense to me...

I'd call Wells Fargo directly and try to work it out.

They want their money, and they're not getting it from most people.

[undressa]

would it helped if we wrote letters to the bank or local politians, maybe power of numbers
can u get a doctor to say there were mental health issues and thats why it got so far

[Misteriosa]

i hope its not too late, but there is this site that may help stall the forclosure while you gather resources:
make the bank produce the original loan note - http://www.consumerwarningnetwork.com

the paper work is on that site. its been getting really hammered hard so it may take a while to get in.

[redbri]

I thought wells fargo suspended all forclosures until March, here is a news link
http://www.bizjournals.com/twincities/stories/2009/02/16/daily8.html

good luck

[Tenbatsuzen]

One thing I read about on FARK - does the bank have the actual note?

[~Katja~]

One thing I read about on FARK - does the bank have the actual note?

it seems that some do and some don't.
It really only buys time.

[Misteriosa]

One thing I read about on FARK - does the bank have the actual note?

im not 100% on this, but i think an online/electronic copy of the note is allowed in court.

[SP1!]

im not 100% on this, but i think an online/electronic copy of the note is allowed in court.

Yeah it is but you would be surprised at how far behind most of these places really are or they hired temps to scan all of the old ones and they fuck it up. One of our biggest clients are mortgage brokers and the biggest nightmare was when their database of liens crashed, we spent a ton of money to recover all the information.

But you are right, asking for the actual mortgage papers usually just delays the sale, it could buy enough time though

[Misteriosa]

I thought wells fargo suspended all forclosures until March, here is a news link
http://www.bizjournals.com/twincities/stories/2009/02/16/daily8.html

good luck

March is only 4 days away... i would think any little bit can help.