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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 30299
Experience:  Texas Attorney for 29 years dealing in real estate
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Hi, I asked an earlier question and if you cant see that I

Customer Question

Hi, I asked an earlier question and if you can't see that I can copy/paste it. (For reference if you need)
My home has been foreclosed on by a local credit union (HELOC) a second for 60K. I have a first for 220K that has not been paid off by the bank foreclosing on us. They have sent us a 10 day eviction notice.
It is my understanding since they have not paid off the first mortgage they do not have good and complete title to the property and cannot force us to leave our asset. Will the sheriff show up at the ten day mark or will they at that time be forced to start the legal eviction proceedings? In other words, do we have to do anything to file an appeal at this time or will they have to go to court if we don't leave.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

 

RayAnswers :

Thanks for your question and good morning.My sympathy here for your situation and dilemma.

RayAnswers :

When a second mortgage holder forecloses as they have done here, the fist mortgage must be paid in full before clear title can pass to the buyer. However, title will still pass to the buyer---it will simply be subject to the first mortgage. If someone buys the property at the foreclosure sale, and then pays off the first mortgage, they will take good and complete title to the property. You will no longer be the legal owner, and you can then be evicted---just as you could if it were the first mortgage lender foreclosing.

Here you being caught up with the first mortgage does not protect the property from being foreclosed on by the second lender. It is just that the second lender cannot keep any proceeds of the sale until the first mortgage lender has been paid in full.

So, knowing this, if the second lender is foreclosing, they also likely intend to pay the first mortgage as well and then take title to the property and sell it.And again unfortunately they can file and evict you.The second lender here is responsible for making the payments on the first note or paying it off if they want to resell it here.But they can evict.

RayAnswers :

Second lenders don't always foreclose especially if the house is underwater but h ere apparently they decided to do so.You may respond to any eviction suit here and try to delay it a bit.But overall here you need to make plans for relocating because they can eventually evict you in all likelihood.

RayAnswers :

Here is reference to the eviction process--once they file suit here and serve you with suit you would have no more than a couple of weeks.So again make plans to be out around the date of the hearing.I truly wish I could give you better news here but I know you want honest information about your situation.

RayAnswers :

Reference to the process and time frames.

RayAnswers :

I do appreciate the chance to chat with you today.Please let me know if you have more questions.I know that this can be sort of overwhelming here..

RayAnswers :

Again if you have more questions it is never a problem just ask.

RayAnswers :

Here is a group in Oregon that fights foreclosures and evictions they might be able to help you .

RayAnswers :(NNN) NNN-NNNN/p>
RayAnswers :

Again they offer self help and legal resources to contest foreclosure and evictions.

RayAnswers :

Thanks again.

RayAnswers :

I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.

 

 

 

 

 

 

 

 

 

This communication does not establish an attorney-client relationship.Information provided here is not legal advice. Rather it is simply general information.

RayAnswers41510.6561252083
Expert:  Ray replied 1 year ago.
Please let me know if you have more chat it is never a problem. I do appreciate the chance to help you today.
Customer: replied 1 year ago.

Is it necessary for us to file an appeal to the eviction, or do we just not leave? We own two businesses that lease, and operate from this address with long term leases. Can an appeal be filed to postpone eviction on their behalf?


 

Expert:  Ray replied 1 year ago.

You can appeal the foreclosure with a civil suit and you can respond to the eviction suit and seek to delay it or postpone it as well.You really need a local lawyer to help locally and file these on your behalf.

Here is lawyer referral including modest means.You may want to contact them about legal help.

https://www.osbar.org/public/legalinfo/1171_LRS.htm

Thanks for letting me help and I appreciate your patience this morning.

Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 30299
Experience: Texas Attorney for 29 years dealing in real estate
Ray and 7 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

The first mortgage has not been paid off as of this date. If we vacate on the eviction date (Aug 31), and the first mortgage has not been purchased by the second mortgage holder. Are we liable for damage to the home,(cold, moisture, etc.) are we still liable for the first mortgage? If the second mortgage holder

Expert:  Ray replied 1 year ago.
You are no longer liable for the house as it has been foreclosed and the second lender has legal title.Honestly you should not make any more payments to the first lienholder, taxes, etc you no longer own it.So you have no liability--you may want to notify them when you leave and they secure it.Legally you don't have to do this its your option.

Thanks again.
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 30299
Experience: Texas Attorney for 29 years dealing in real estate
Ray and 7 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

Is there a right of redemption in a non-judicial foreclosure? Can you tell me how it works, and for what period of time it is available?


Also, Is there specific forms for appealing an eviction, if so where can they be found online?

Expert:  Ray replied 1 year ago.
In Oregon if it is a non judicial foreclosure no right of redemption. judicial foreclosure then yes.Here is reference that explains both and your rights.

http://www.oregonstatebar.org/public/legalinfo/1202_ForeclosureRealProperty.htm

Thanks for the follow up here and letting me help you.

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Ray
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Texas Attorney for 29 years dealing in real estate