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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6823
Experience:  Licensed attorney helping individuals and businesses.
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1983 I bought two homes in one lot.Took out a loan in 2004

Customer Question

1983 I bought two homes in one lot.Took out a loan in 2004 for 250,000 to buy other property.In May of 2013 was the last payment in Chase when SPServing bought ny note in June when I was going to make payment.They said that I was behided 6 months and they couldnt take my payment until I get current,it was around 20,000. When I was current at Chase.Chase calls SPServing tells them I was current and faxs them my payment statements.I put a dispute with SPServing and they keep insisting I was behided.I also try paying to restate my mortgage before it went to foreclosure and they said it was to late .They sold my homes for one third of the value when I only owe 222,000.and my homes are worth around 800,000.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. My name is***** and I am going to assist you with your question.

Expert:  MIAMILAW1127 replied 1 year ago.

Unfortunately, if your property has already gone through the foreclosure process and the property has been sold at auction, there may not be much you can do. California has a complicated statutory right of redemption after the foreclosure sale has occurred, which would allow a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs one (1) year after foreclosure sale unless the original lender made a full price bid then that period is shortened to three (3) months.

Expert:  MIAMILAW1127 replied 1 year ago.

However, there is no statutory right of redemption if a deficiency judgment is waived or prohibited at the time of which effectively negates any possibility of a redemption occurring in the scenario noted above.

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