Foreclosures Help Information

Posts Tagged ‘Eviction’

Stop Foreclosure Eviction

Question: fannie mae evictions?

I'm currently living in a property that was lost in foreclosure in late nov.2008 on DEC. 4 I received a 60 day notice. I found out 2 weeks ago the property was Fannie Mae owed since they stopped foreclosures and evictions till march 6, 2009 will the 60 days start counting after march 6 or by that day I have to move. I contacted the agent in charge of the property and told them I'm interested in renting the property from Fannie Mae and he told me I was better off moving instead. What can i do to find out more i tried calling Fannie Mae and was told i need to get the info from the agent in charge of the property please help
I am located in California

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Answer: You don't say where you are located, and Fannie Mae may have more incentive to rent a foreclosed property in your area than where I am.

I suggest that you call the agent again, and get his/her address and send, in writing, your interest in renting the property. You might send a copy of the letter to the agent's broker and if you have a mailing address, send it to Fannie Mae as well. [If you work your way through the Fannie Mae system, you may even be able to get the name of the representative who handles the foreclosure properties in your area.]

Things have changed a lot since I was an asset manager for Fannie Mae properties for my broker. It is possible that if the property is rented out, the agent may have to service the rental listing which is a pain if s/he is a selling agent and receive a minimal fee for the effort. Or, the agent may have the property removed from his/her inventory and not have the chance to sell it and actually earn a commission.

Or, the agent may be a straight shooter. And actually helping you by saying that dealing with Fannie Mae as a LL is a major pain.

Only one way to find out.

Good luck.

Eviction Foreclosure, Stop Foreclosure, Foreclosure Help

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Stop Foreclosure Bankruptcy

Question: Can I cancel a chapter 7 bankruptcy?

I have filed for a chapter 7 bankruptcy yesterday to stop foreclosure on my only home. I wonder, if I will get enough money to cure this debt, can I cancel the bankruptcy, or is there anything like that, please let me know

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Answer: This question is an example of what can go wrong when people try to act as their own attorney. Filing for Chapter 7 will only delay a foreclosure. You will eventually lose your home if you cannot find the financing to get caught up. A Chapter 7 bankruptcy is difficult to dismiss and requires an appropriate motion to be filed with the court. You might consider converting to a Chapter 13, which is much easier to dismiss.

In reality though, you are in way over your head. You should see a local bankruptcy attorney as soon as possible to get more specific advice.

Can bankruptcy stop foreclosure?