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Ladybugsy

It's been 7 years with no hint of a foreclosure process beginning. Next Steps?

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We filed for bankruptcy in 2010 and voluntarily gave our home back to the bank. Our lawyer told us it would go through the normal foreclosure process, however all we have received are "This is not a bill" updates showing how much we are behind. The loan has been sold twice in 7 years. I expected something to have happened by now.

 

We are still in the home, although we are moving next month into a new home. My plan is to let my grown daughter live here and keep the place up. My question is this. I live in Florida, and I'm aware of the new law stating that there is basically no SOL, but I'm unsure if that means from court case to court case, or if it means that they don't ever have to even begin proceedings. I'm fairly certain they don't have the paperwork they need, but there has been no communication with the new bank other than the normal updates. I'd like to keep the house and rent it out for profit eventually. I wonder if I should be doing something other than just waiting for something to happen.

 

Thoughts?

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I'd like to keep the house and rent it out for profit eventually.

 

What would you tell your prospective tenants? The house is in foreclosure and could be sold by the bank at anytime? Or would you keep your trap shut and your tenant calls you in a panic because the Sheriff is serving an eviction notice and you're facing a lawsuit.

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Would it be feasible to disclose the foreclosure in writing to potential renters upfront and offer them a significant discount to Market rental rates?

Edited by DeadMoneyDrew

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Yes, I am paying the property taxes religiously. I also have no problem disclosing that the property is in foreclosure and that a typical lease would not be possible.

 

Renting it out isn't something we have to do as my daughter can live here. But my question really surrounds what to do...what steps I need to take, or do I just wait it out?. I know a new law passed in Florida where there is no SOL on retrying a foreclosure, (Bartram v. U.S. Bank National Association, here's a link: http://www.burr.com/2016/11/03/florida-supreme-court-issues-landmark-ruling-statute-limitations-foreclosure-bartram-affirmed/) but I can't find anything on the SOL if one has never even been started. I seem to be stuck in perpetual limbo. I don't want to speed it up, of course, but I would like to know if I have any options, even if the time limit has not arrived yet. I just can't find anything on this situation or any other people in my situation.

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I am not sure what you done already!!

But you can ignore foreclosure just following some step , Many investor company help you for that and you should take that kind of steps or manage an investor before auction date ,

You find more company in your local listing .

 

Thank You

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I am not sure what you done already!!

But you can ignore foreclosure just following some step , Many investor company help you for that and you should take that kind of steps or manage an investor before auction date ,

You find more company in your local listing .

 

Thank You

Bad advice you don't ignore foreclosures. And scam companies won't help.

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I am not sure what you done already!!

But you can ignore foreclosure just following some step , Many investor company help you for that and you should take that kind of steps or manage an investor before auction date ,

You find more company in your local listing .

 

Thank You

Please stop posting. This is utter nonsense.

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