Bankruptcy

Making Home Affordable

I have been working with Making Home Affordable since June, when the new lender purchased my loan. He stated in Aug that we were 3 weeks out for approval. Now without receiving any certified slip to pick up from post office, or notice, I was told by my tenant that it is in foreclosure, and sale date is 10/14. I contacted Making Home Affordable, he told me everything would be fine, now they state, I need to file bankruptcy to stop the sale date. I questioned him how this happened, since he had been working on it, and he said, it was the lenders fault for not letting him know what was needed. Is there a way to stop the sale before the 14th

Nathan’s Answer

As others have mentioned, a bankruptcy will help stop the sale better than filing a lawsuit and asking for an injunction. If it is too late to do either, it would be prudent to check whether the property was purchased, or if it went back to the bank as a credit bid. If it went back to the bank, it may behoove you to contact counsel to determine whether something can be worked out with the bank in relation to obtaining a rescission of the title back into your name.

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