Denied loan modification 3 times by the bank - had short sale contract approved before foreclosure date (9/6/11) - told by the bank that our foreclosure date would be moved further out (9/23/11) to accomodate the purchaser - foreclosed on our home on 9/6 and would not rescind - do we have legal recourse?
2 Answers from Attorneys
You left out the most important details - what contracts do you have in writing, and what are the terms of those contracts? We don't have them. Did you honor your agreement to make payments as agreed? Why are you asking over a year later? If you are the one who did not make payments as agreed, what are your damages? If you breached your loan agreement and did not enter into another written agreement to waive that or hold the foreclosure, the answer is no. The bank may have recourse for the balance of the loan.
Foreclosures only happen the first Tuesday of a month. They
Could not change it to the date you said. You should have called a lawyer before the foreclosure date. Unless you have a written agreement to postpone foreclosure you likely have no remedy but see a lawyer ASAP just in case.