Realtor Advice vs. Getting Attorney

[Watsonsbag]

Just when I thought things were looking up, we received a phone call from the realtor trying to do a short sale on our house before it is sold as a foreclosure. The people who intended to buy it, gave a nice deposit and went way over what we all thought it would sell for, now cannot get a mortgage. So it's back to square one.

The first mortgage holder is adding delinquent amounts to our credit reports on a monthly basis ever since the BK discharge. Mine is up to three and hubby's is up to 2 (seems they are behind on posting his), with an amount around $4000 and growing each month. These lenders were included in the BK and we had told the court we were giving up the house. Also lender #3 made their loan under fraudulent conditions and can possibly be sued.

The realtor and hubby say to wait so as not to ruin any possible short sale. I, however, am chomping at the bit and absolutely furious that these lenders are just going merrily along destroying us in almost every way possible. In fact, it has even affected my health, which is already pretty bad.

We already got letters that foreclosure has been started and the date to make up any defaults is past. The longer this house sits the more chance that it will foreclose and further ruin our credit. Am I being overly impatient or do I have a point about contacting an attorney (if I do find one who will take the case)?

The house is a piece of junk but the 5 acres with it is our only saving grace. However, nobody expected more then $95000 and these people were offering $129000! Not that we would see a penny from the sale.

Please, anyone have any thoughts on this matter. Just one of so many problems we are tackling with at this time. Thanks.

[Guest]

well in a NORMAL foreclosure it takes at least 5 months for all of it to go through so you have a good amount of time to sell or to find someplace else to live.

I dont know if BK makes it different or what.

Just keep copies of ALL your credit reports and anything else you might feel is important to sue the jerks later.

Also depending on what kind of fraud the 3rd loan was under and what yer state is. In some instances the entire loan is null and void so you wouldnt owe a dime..but this needs to be looked at by a lawyer.