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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?>
>
