Tag Archive for Hundreds of foreclosure sales halted

Tenants in Foreclosure- Are they really out of foreclosure?

Now settling into my new home I am beginning to get back into my normal Sunday routine of drinking my coffee and reading the paper. There are only a few sections that I read; the front page, the business section and the travel section.

Brent Hunsberger has two great articles today. The article on the front page, Hundreds of Foreclosure Sales Halted http://blog.oregonlive.com/cgi-bin/mte/mt-comments.cgi caught by eye because the home that I recently rented and recently moved out of was in foreclosure.

The article talks about how lenders have withdrawn hundreds of foreclosure sales since February after there have been several questions on the legality of the process.

After months of my calling the trustee several times to continually hear that the home I was renting was still in foreclosure and then finding the day that I closed on the purchase of a new home that the case was closed. I was so surprised since by my estimation the home had a negative equity of approximately $200,000. I couldn’t image how the landlords who now lived out of state would be able to maintain this as a viable rental. Still, after hearing that the foreclosure case was withdrawn I assumed they must have worked something out with the bank. Now I’m questioning that. Do you think it was one of the homes that Bank of America withdrew?