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Ray
Ray, Lawyer
Category: Real Estate Law
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Experience:  Texas Attorney for 30 years dealing in real estate
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I own a home in the state of New York. The bank had a

Customer Question

I own a home in the state of New York. The bank had a foreclosure auction at the court house and no one purchased the home. I expected to get a notice on my door to move out, but it has been 5 months since the auction and nothing has happened. A friend of mine told me to go to the county clerks office and see if the bank filed a new deed. I checked yesterday and the bank has yet to record a new deed and take ownership of the house. Seems that something is wrong. I would like to keep the house if possible. Any help will be greatly appreciated. Thank you
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

You can certainly contact the lender or their lawyer about staying in the house.You can look at the foreclosure suit to locate this information.It is possible the house failed to sell as you state since no deed was filed.It is also possible there was some problem within the foreclosure, bad pleading, bad notice, etc.Again all of that adds up to giving you another chance to try and save the property.

Contact the lender's lawyer and see if you can get loan modification or other resolution here to allow you to keep the house.In most cases the lender really doesn't want another foreclosure and will work with you.But give them a call here and see if something can be worked out to avoid you having to leave.Often they agree to modification or other resolution.

You have nothing to loose here and maybe it will work out for you.Since it did not sell that gives you a second chance to save your home.I appreciate the chance to help you today.I wish you the best.Thanks again.

Expert:  Ray replied 1 year ago.

The foreclosure file at courthouse is public record you may want to go read it and see what has transpired.You may be able to see why it did not sell and also get contact information.It sure doesn't hurt to try to reclaim it here and resolve the matter.

Reference to NY law..

http://www.nolo.com/legal-encyclopedia/summary-new-yorks-foreclosure-laws.html

Expert:  Ray replied 1 year ago.

I appreciate the chance to help you today.If you can leave a positive rating when we are done it is sincerely ***** ***** you can resolve this and keep the home.

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