How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Barrister Your Own Question

Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 23128
Experience:  14 years real estate, Realtor. Landlord 24+ years
19958803
Type Your Real Estate Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

I have a house in Maryland that I thought the bank forclosed

Customer Question

I have a house in Maryland that I thought the bank forclosed on, but I recently received a citation for lack of upkeep on the property from the city. I now find out that the bank did not forclose the property and it's still mine. I looked up the case on the judiciary website and it says they filed a lost note affidavit and it was granted and then they file for a dismissal of the forclosure and it was granted. What is going on with this propery. I haven't paid a mortgage since I filed bankruptcy in 2007 (Chapter 7). They filed for dismissal in 2009. Should I move back in?

Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
.
For whatever reason, apparently the lender decided not to move forward with a formal foreclosure to force a sale of the property. There is no way to know why, but if you discharged the mortgage in your BK case, then you can't be held liable to pay it now.
.
It sounds like they lost the original note for the property and filed the lost note affidavit so they could continue on with a foreclosure. It is odd that they decided for some reason to do a 180 and dismiss their foreclosure action. This would make more sense if this was an administrative dismissal if the bank didn't pursue the foreclosure and the court eventually dismissed it on their own.
.
But if the house is still legally in your name, you could retake physical possession and live there or rent it out until the bank decided to actually pursue a foreclosure.
.

.

.

Thanks.

Barrister

.

.

If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

.

I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 1 year ago.


Can you suggest any thing else I can do to find out more about this? Could this mean that they can't produce the original note and therefore cant proceed?

Expert:  Barrister replied 1 year ago.
Well, if they filed a lost note affidavit, most courts will allow them to still proceed with a foreclosure. They are just swearing that they have the legal right to collect on the debt and that there is no other creditor or owner of the note. Although a person can file a lawsuit against the lender alleging that if they don't have the physical note, they can't foreclose, these don't succeed very often if the lender can get other affidavits from the previous holders to show a chain of ownership that ends with them.
.
While some CA courts have refused to allow a bank to foreclose if they can't "produce the note" the vast majority of courts will allow them to do so.
.
If you do an internet search for "produce the note", you will find lots of info about certain tactics and strategies some borrowers have used that have been successful.
.
But personally, I wouldn't be betting the farm that it would work because the few that are successful are in the vast minority.
.

.

.

Thanks.

Barrister

.

.

If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

.

I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 1 year ago.


Barrister, I appreciate your wisdom on this. I have another question, why would any bank wait so long to move forward? What could they possibly gain? If I move back in, what is the shortest time they could then get me back out?

Expert:  Barrister replied 1 year ago.
You are welcome. About the only reason the I have found that banks do this is if the property is in a state of disrepair and the lender doesn't want to get it back in their name to be responsible for maintaining it, paying taxes and insurance on it, and the potential liability if someone got injured on it. So as long as it is in your name, all that falls on you as the legal owner.
.
If you moved back, they would have to start the whole process over again. From initial notice to actual sale, you are looking at around 110-130 days depending on the court dockets and how fast they proceed. Then after the sale, the new owner would have to pursue a formal eviction action against you to retake possession which takes about 3 more weeks from start to finish.
.
So if I were to ballpark it, I would say close to 5 months...
.

.

.

Thanks.

Barrister

.

.

If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

.

I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 23128
Experience: 14 years real estate, Realtor. Landlord 24+ years
Barrister and 3 other Real Estate Law Specialists are ready to help you
Expert:  Barrister replied 1 year ago.

Thanks so much for the positive rating and generous bonus, it is very much appreciated!

.

It was my pleasure to work with you and help with your question. Please feel free to ask for me if you need help with anything in the future and I will do my level best to help or get you to someone who can.

.

Barrister

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Lawyer

    Satisfied Customers:

    6227
    20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Lawyer

    Satisfied Customers:

    4966
    13 years real estate, Realtor. Landlord 24+ years
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Attorney

    Satisfied Customers:

    4446
    I've more than 27 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
  • http://ww2.justanswer.com/uploads/RA/rayanswers/2012-6-7_23346_Untitled1.64x64.jpg Ray's Avatar

    Ray

    Lawyer

    Satisfied Customers:

    4030
    Texas Attorney for 29 years dealing in real estate
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Lawyer

    Satisfied Customers:

    2377
    12+ yrs. of experience including real estate law.
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    2355
    B.A.; M.B.A.; J.D.