Sunday, May 06, 2012

auction vs short sale

does anyone know if your house can be BOTH approved for a short sale and also go into an auction???  because that's what happened to us-  and i've heard from numerous people that it's illegal. 

our house was approved for a short sale. our specialist put in for the auction postponment.  clearly, the auction person didn't get the memo.  the people who bought our house are real estate agents who KNEW we were in the middle of a short sale.

so i'm wondering if anyone has ever dealt with this before- can we fight it?  i'm super fucking pissed that we're going to have a foreclosure on our credit, as opposed to a short sale....

also, i want the people who INTENDED TO BUY OUR HOME to be the ones who actually get it and live in it! you know? 

this whole situation is so fucking up. 


Jill said...

I beleive it is illegal. BOA forced the auction. If the house was short saled and the house was then auctioned off then that is an illegal act. If the short sale did not go all the way through the process then it wasn't. You truly need to contact an real estate attorney to help you. This would not be the first time BOA has done something illegal with a foreclosure. They could be in some real trouble here. Its going to take an expereinced attorney to figure this out. In the end they buyers at the short sale will end up sueing BOA to get the property would be my guess. BOA tried to pull the wool over our eyes as well. It took an act of Congress to fix it and I am still not sure its fixed. They are HORRIBLE on home loans.

BW said...

JB - PLEASE talk to a RE attorney. I don't know any in CA, but I have heard many stories like this from my clients here in FL. As crazy as it sounds, I have clients who have ended up with the court awarding their clients their house back - FREE AND CLEAR because of fraud and negligence by the banks...PLEASE CALL ONE. If you find one or two, give me their names and I'll look them up.

Grand Pooba said...

Ster, while I can't help you on your house issues I could maybe cheer you up! You can come over and enter a giveaway I'm having, that'll cheer you up right? Right??

Sorry bout your house issues, that sucks!

Pandy said...

I think you should talk to an attorney. This seems wrong. Sorry for what you are going through.