Owner contacted me....
...and I need some help. Here's what I was able to gather from the homeowner: He went into foreclosure in 2000 and he declared bankruptcy soon after. Now 2 years later he's house will be auctioned off in June. He just called me today because I sent out letters to owners in foreclosure and he was very surprised that his house was going into auction in just a couple of weeks. So here's my question, how come after declaring bankcruptcy almost 2 years ago his house is now going into auction? I know bankrucptcy doesn't stop a foreclosure, but since his house is going into auction, is this an indication that he didn't meet his committments?
Jason
Yes he did not meet his commitment with the mortgage and bankruptcy, and he was probably dismissed from a Chapter 13 bankruptcy. So every lien that was against his property before will probably show up on his title again. you would need to have his title checked thoroughly, and make sure that they check against his bk record, sometimes liens get caught up in bk and are missed by title agents. That becomes a huge hassle, I have seen where the property has been sold twice, and one big mess, trying to fix it.
You might be best to let it go through the sheriff sale and wait to talk to the bank afterwards.