second mortgage sold at an auction

Posted by andrea on August 23, 2002 at 07:37:33:

>> I am trying to find out if a bankruptcy will protect the interest of my> 1st mortgage -- The second was sold at an auction. The person who bought> it has not perfected title by paying off the first and is currently trying> to evict me. We had previously negotiated buying it back from him, but> requested that he provide court documentation as we had received nothing> except an acceleration notice filed in another county that the loan was in> default. We requested to pay the balance to the lender, but were told that they> had to assess the fines and get back to us in writing with the amount --> They never did. A request of this nature was made to them several times> and by several people including a local Realtor who said that he was> taking care of it. I then received a bill from the lender (not their> attorney) with an amount indicating payment needed to be received by> 8/10/02. The house sold on 8/5 -- a hand written note was left on my door> by the person who purchased it. I checked with the county recorder and> found only the foreclosure to be recorded and I was still listed as the> owner. I found out today that he did record a deed of trust on 8/13.> From what I understand, the first mortgage company should have been> notified, they could have been represented at the auction to purchase the> loan which in turn would have nullified all others. They have not started> foreclosure proceedings. If you can help me understand if foreclosure is> an option. Does Nevada have a redemption period? Does he have right of possession? How do I find out what it sold for? Can he evict me? Does he have to pay off the first or will it go into foreclosure too?>>

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Comments: : : > : > I am trying to find out if a bankruptcy will protect the interest of my : > 1st mortgage -- The second was sold at an auction. The person who bought : > it has not perfected title by paying off the first and is currently trying : > to evict me. We had previously negotiated buying it back from him, but : > requested that he provide court documentation as we had received nothing : > except an acceleration notice filed in another county that the loan was in : > default. We requested to pay the balance to the lender, but were told that they : > had to assess the fines and get back to us in writing with the amount -- : > They never did. A request of this nature was made to them several times : > and by several people including a local Realtor who said that he was : > taking care of it. I then received a bill from the lender (not their : > attorney) with an amount indicating payment needed to be received by : > 8/10/02. The house sold on 8/5 -- a hand written note was left on my door : > by the person who purchased it. I checked with the county recorder and : > found only the foreclosure to be recorded and I was still listed as the : > owner. I found out today that he did record a deed of trust on 8/13. : > From what I understand, the first mortgage company should have been : > notified, they could have been represented at the auction to purchase the : > loan which in turn would have nullified all others. They have not started : > foreclosure proceedings. If you can help me understand if foreclosure is : > an option. Does Nevada have a redemption period? Does he have right of possession? How do I find out what it sold for? Can he evict me? Does he have to pay off the first or will it go into foreclosure too?> : >

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