questions & answers

Question: My house was foreclosed on me without my knowledge. On January 4th a lawyers office put a package with my options to continue renting or to relocate. But I never received a letter or option to short sale, apply for HAMP, or notice of the sale. They obviously have my address, but no notice or options. Where can I find a way to get my house back? I found something online about the "right of redemption" and I'm completely upset and confused as to why I wasn't given any option or notification of sale. Please help. Any resources on "right of redemption" or a legal way to get them to stop?

Answer:

The article in entitled Information for Homeowners Facing Loss of a Home (http://azlawhelp.org/articles_info.cfm?mc=3&sc=20&articleid=40). This article states that the lender will make a demand that back payments be made. Usually this is required in the agreement. If the lender sends this notice by certified mail, the process of forcing sale of your home can continue even if you refuse to pick up the certified letter. The “Right of Redemption” gives a mortgagor, the person who borrowed money, the chance to pay their lenders the full amount of their unpaid debt, plus any additional default-related fees. If it is not possible to catch up on payments then it can be possible to ask if the home can be rented or a payment plan can be discussed with the lender. A.R.S. 33-726 (http://www.azleg.gov/FormatDocument.asp?inDoc=/ars/33/00726.htm&Title=33&DocType=ARS) states that if payment is made to the officer directed to sell mortgaged property under a foreclosure judgment, before the foreclosure sale takes place, the officer shall make a certificate of payment and acknowledge it, and the certificate shall be recorded in the office in which the mortgage or deed of trust is recorded . It is always the best potion to catch up on any payments that are owed or speaking with the lender prior to the date of sale.

For more Foreclosure Help