Foreclosed home that didn't sell? Too late?
If your home is foreclosed on at did not sell at the courthouse do you have any recourse for getting your home back besides coming up with the balance due? Can you file bankruptcy if it didn't sell or is it too late for that option? Do mortgage companies every reinstate you and let you start over with payments?
Foreclosed home that didn't sell? Too late?comedy clubIf your house did not sell at the auction or sale it is now the banks property now. It is called a R.E.O. Real Estate On-hand a bank term for it is now in the hands of the bank.
They would have entertained the idea of re-instating earlier in the foreclosure process, but now they just want you out and on the way. The bank will not at this stage re-instate the property to the previous owners. They have changed the title from you to them
You may file bankruptcy, however the house will not be an asset you can list. It is too late for options, you should have done this during the first few days or weeks of the foreclosure.
The bank will now assign a real estate broker to sell the house for them, that is why the person you spoke to at the bank informed you that a Realtor would be out soon.
In all probability this person is authorized by the bank to eliminate anyone that is still in the house. You might tell this person you need a few thousand dollars to move, but they will serve the eviction notice if you don't volunteer to get out of the house.
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