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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33708
Experience:  15 years real estate, Realtor. Landlord 26 years
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If a sheriff sale is scheduled can I still recieve a deed in

Customer Question

Hi if a sheriff sale is scheduled can I still recieve a deed in lieu?
JA: Where is the property located?
Customer: Grosse pointe michigan
JA: Has any paperwork been filed?
Customer: Yes, I've received a letter saying I'd recieve an answer in 45 day however, I'm getting mail from realtors saying my home has been posted for sale in the legal news for the end of the month
JA: Anything else you want the lawyer to know before I connect you?
Customer: Yes please, I work in finance and cannot have a foreclosure because of licensing!
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Barrister replied 3 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Has the bank agreed to a DIL in writing?

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And it is the bank that is foreclosing, correct?

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thanks

Barrister

Customer: replied 3 months ago.
No sir ic waiting on approval. Ocwen loan servicing.
Expert:  Barrister replied 3 months ago.

Ok, while it is possible that they could accept a DIL, to be honest with you, it isn't very likely. The bank is the one pushing the foreclosure sale through... So if they wanted to wait to see if a DIL could be approved, then they would just postpone the sale.

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The fact that they aren't doing so means that they just told you that to keep you from doing anything to the house while the continue the foreclosure.

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I see banks lie like this all the time. They tell the homeowner that they might do a DIL if they take care of the house and keep it up, all the while continuing on with the foreclosure. Then the bank ends up with a house that is nice and kept up rather than abandoned and possibly vandalized or stripped of valuable materials.

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So while it is possible, I don't think you should get your hopes up at this point..

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

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thanks

Barrister

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