lost my house to foreclosure. the foreclosing bank was not my mortgage bank. how could this happen?
The only way this could happen legally is if the foreclosing bank purchased and assignment of the debt from the mortgage bank. If there was no assignment of the debt, then presumably the original bank still has a claim and the foreclosing bank has wrongfully taken possession of the property.
There unfortunately has been an epidemic of these types of situations happening... a bank does not actually "hold" a person's mortgage but they bring forth foreclosure proceedings against you.
Have you already lost the home? Has the foreclosure sale gone through? If so, it is unfortunately a bit more difficult to challenge after the fact, but I would highly suggest speaking to an attorney, especially one who knows land law. If you can find one that deals with foreclosure cases all the better! (but that is harder to come by)
If you are still in the middle of the foreclosure process, make sure that you challenge the validity of the foreclosing party. State have specific foreclosure laws which require the party foreclosing to PROVE that they have physical possession of a mortgage note and can enforce it among other requirements. Definitely check your local state laws and procedures.
Hope that helps!
by GL Bell 9 years ago
Just saw this on morning news...If this is true than we have seen nothing yet...
by Stacie L 7 years ago
Patsy Campbell could tell you a thing or two about fighting foreclosure. She's been fighting hers for 25 years.The 71-year-old retired insurance saleswoman has been living in her house, a two-story on a half-acre in a tidy middle-class neighborhood here in central Florida, since 1978. The last time...
by wishingonastar 8 years ago
Let me start off by saying that this loan is a Freddie Mac loan. This loan has been sold so many times throughout the 10 years I have lived here. I fell on hard times and tried for a loan modification. My lender granted me a modification, or so I thought. They recalculated my income and...
by CWanamaker 7 years ago
Will a bank give a 90 year old man a mortgage, assuming he would otherwise be eligible?No one seems to know the answer. I know the man would be a risk to the bank, but if he meets all the necessary income requirements, could they say no? Is that age discrimination?
by William Thomas 8 years ago
You have heard about subprime foreclosures and the pain and suffering these are causing working...families, and so forth. You have heard that one legal tactic that had been suggested to such endangered homeowners is to challenge the bank to prove they actually own the mortgage - which they...
by rossiterdeborah 9 years ago
Did you know that most people that lose their homes to foreclosure is a result of mismanagement? The second is Marital problems that result in seperation and divorce.
Copyright © 2019 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|