[WSBARP] Ownership of home post foreclosure auction

[Jim Doran]

I am sure someone with more horsepower than me will weigh in on this,
but.....   If the foreclosure was not completed then how could the owner be
stripped of his interest?  So my question is, did the Trustee's Sale
actually happen or not?

It is an interesting question if the Trustee's sale actually happened but
no one, not even the lender, bid at the sale.  It seems to me that the
parties are in the same boat that they were in prior to the Trustee's
Sale.  d

I am eager to hear from others on this topic.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com

On Thu, Jun 23, 2016 at 9:28 AM, Paul Neumiller <pneumiller at hotmail.com>
wrote:

> Whoa!?!?!  I have never heard of this.  Why would a bank do this??  I
> would think that the foreclosure process WAS completed because an auction
> took place at the court house steps.  It’s not the debtor’s fault the bank
> didn’t credit bid its loan at the sale.  Why couldn’t the debtor now make
> the argument that the loan has been wiped out by the sale and there is no
> deficiency opportunity because the lender used a nonjudicial foreclosure?
> Is anyone else seeing this?
>
>
>
>
>
> *From:* wsbarp-bounces at lists.wsbarppt.com [mailto:
> wsbarp-bounces at lists.wsbarppt.com] *On Behalf Of *Jim Doran
> *Sent:* Thursday, June 23, 2016 8:06 AM
> *To:* attorney at shanapavithran.com; WSBA Real Property Listserv <
> wsbarp at lists.wsbarppt.com>
> *Subject:* Re: [WSBARP] Ownership of home post foreclosure auction.
>
>
>
> If the home was not "purchased" at the sale then the foreclosure was not
> completed.  No deed from the Trustee was delivered to a new owner.
>
> This means that your client is still the owner of the property.
>
> There are a number of defenses that can be raised in a foreclosure process
> to keep the bank and servicer at bay.  Now that the great recession of 2008
> is getting years past the statute of limitations defense is looming and
> working its way through the courts of America.  The entire debt or part of
> it might now be barred.
>
> anyway, if you client wants to talk to me a bout tis, or you want to, I am
> happy to do so.  I have been doing "foreclosure defense" for a while now.
>
> Jim Doran
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
>
>
> On Thu, Jun 23, 2016 at 4:49 AM, <attorney at shanapavithran.com> wrote:
>
>  I have a client, whose home was foreclosed, pursuant to a trust deed
> foreclosure.  The lender held an auction on 2/5/16.  The value of the
> mortgage was approximately 230K appraised current value is approximately
> 155K.  Though foreclosed, home was not sold at the auction.  The bank did
> not bid at the auction or transfer ownership of the home to the bank's
> name.  The home remains in the client's name. He still pays the water bill
> on it.  He does not live there right now.  What rights does he have
> regarding the home?  Does the bank own it or does the client own it
> outright, as the mortgage is discharged by the foreclosure.
>
>
>
>
>
> Shana Pavithran
> Attorney-at-Law
> Pavithran, PLLC.
> 22525 SE 64th Place, #279
> Issaquah, WA 98027
>
> Telephone: (425) 557-3625
>
> Email: attorney at shanapavithran.com
> Website: www. shanapavithran.com
>
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