So confused...IDEAS???

[quiltnchik]

We've been fighting Countrywide for the past 15 months and trying to get them to modify our mortgage and reduce our payments. Somehow, they managed to 'lose' our paperwork - which we didn't find out about until last month - so we had to start all over again. We're going through an FHA/HUD representative, who has been doing all the calling, paperwork, faxing, etc., since our loan is an FHA loan and he has more "power" than we do when it comes to dealing with the mortgage company. Our house was originally due to be foreclosed on and sold on April 27th, but that was moved to May 18th pending paperwork...

Fast forward to last week - on May 12th we received a new contract from Bank of America, who now owns Countrywide, with instructions to sign the contract and get it back to them with a check for $1215 by May 14th. The FHA/HUD rep looked it over, explained what was happening and instructed us to sign it and FedEx it back to BoA. This past Monday, BoA confirmed that they had received the package on the 14th - when it was due - and that a modification was in the works (they're working to lower our interest rate and payments), but the new contract gives us until July 1st to make our first "new" mortgage payment, allowing them time to get all this done.

Now, fast forward to today - we receive a letter from a lawyer stating that our house was sold at public auction on May 18th and we now have 5 days to vacate!! My husband immediately put a call in and left a message for the FHA/HUD rep when we got home tonight, but won't know anything certain until tomorrow morning when the rep gets in. Does anyone know what might be happening here? There's NO WAY I can get all this stuff packed and out of here this weekend, and we have nowhere else to go...

 

[redhen]

I'm so sorry! I hope it was just a mistake of some kind...

Good Luck

 

[quiltnchik]

I'm bumping this up - I need some ideas, suggestions, anything at this point so that I can MAYBE get some sleep tonight

 

[farmertank]

I really don't know how to help you and I hope this is all a misunderstanding.

I just wanted to show my support and bump you again.

I thought that they had to give you at least 30 days?

hang in there I will keep you in my thought and hope for the best

Julie

 

[quiltnchik]

Thanks Julie

I'm thinking it was a total misunderstanding due to, as the FHA/HUD rep says, "too many hands in the pot." The right hand literally does not know what the left is doing, so we're figuring that word never got down through the proper channels to stop the auction. To be honest, I can't figure why anyone would pay what they were asking, considering this house isn't worth 1/4 of that now due to the economy... I'll let y'all know as soon as we find out something, which should be by lunch time EST today.

Thanks again for your support

 

[quiltnchik]

bump - DH is on the phone with BoA now trying to get some info and I'm waiting to hear from him. Any ideas? Anyone?

 

[chick_newbie]

Wow what a bad situation. I really don't know any of how this stuff works but just wanted to give a little support if I could.

I would think that they had to give you some sort of warning if they were going to sell your house. I believe that they have to run something in the paper as to when and where the sale is. Usually the court house though. And the ad runs in the back of the newspaper with the legals are and I don't know how many people actually read them. Anyway that is how it is here in South Dakota.

Good luck figuring all this out.

 

[quiltnchik]

Apparently BoA spoke with our FHA/HUD rep on the 18th and told him we didn't qualify and they were going through with the sale, though he never bothered to tell us. He's not in the office today, so we haven't been able to reach him for comment. The lawyer's office told DH that the bank (BoA) bought the house back and that we have longer than 5 days to be out, since they'll have to go to court, etc. We're working on finding a storage space now and will go from there...this whole situation SUCKS and I have no idea how we're going to be able to afford a downpayment on a rental now. I sent BoA $1215 last week and that was every dime I had saved, plus I had to borrow money from my son and daughter...

 

[debilorrah]

Quote:
Stop payment on that check!!!!

 

[texaschick-a-dee]

Don't they evict you before putting your house up for sale? And how is it legal for your lender to sell your home and buy it themselves? That's crazy!

Makes me sick when all you hear on the news is if you're behind call your lender and they'll be willing to help you. That's a crock!

So sorry that this is happening to you.