our home was sold at sheriff sale, the bank now owns our home.?

Question

Can filing bankrupsy help to get our home back at this point?

Answer 1

Was it sold for mortgage default or for back taxes? Since you say the bank now owns the home I will lean towards a mortgage default.

Where I live the buyer at a foreclosure auction has until 4 p.m. the day of the sale to pay for the property, and then it is theirs. They will be issued a title 14 days after the day of the sale.

Tax sales are different, and rules vary widely. Sometimes the homeowner has up to 2 years to bring the debt current, and sometimes not.

In either case filing bankruptcy will not get your house back.

Answer 2

Your question is a bit confusing... you say can it be sold for credit card debt. The answer is no on that because credit card debt is not secured by your home. However, then you bring in Green Tree which is a manufactured home mortgage company. Are you living in the mfg. home that Green Tree has a mortgage on? If so, yes it can be sold for the balance due (and will be). However, Green Tree can only force the sale of the home/land you live in if it's the home/land that they have a mortgage on. Hope this helps. Also you cannot deed property with a mortgage on it to someone else.. it makes your loan fraudulent & due and payable in full immediately.

Answer 3

I'm not sure about how filing bankruptcy will help, but in Pennsylvania, you have a year after the home is sold to buy it back from the bank. It stinks for the people who bought it at the sheriff sale, but it happens.

Answer 4

Tell me you got NO paperwork advising you of your rights and the terms of the sale. Tell me that you got NO warning of proceedings. Tell me that you had NO time to ask this question BEFORE the sale.
The LAWS of each state vary and the rules for Sheriff Sales vary by county so without knowing WHICH county in WHICH state your sale was held in NOBODY can tell you what your options are. Why don't you as this question to the people who held the sale?
Since you posted the bank now owns your home; why don't you ask them this question. Most bank are VERY willing to work out solutions to avoid them going thru the expenses of foreclosure knowing they are going to lose money getting title on the property and then having costs to hold/ resell the property.
TO me this sounds like you are NOT talking to YOUR bank, NOT talking to your Sheriff, and NOT taking personal responsibility for your situation. So you will probably NOT take the proper action you are given here.

Answer 5

Your house is GONE, sorry to say. Once the bank procures ownership, there's no turning back. If it's any feeble comfort to you, a bankruptcy filing ahead of time would only have delayed the inevitable by a few months. If you were still unable to pay your mortgage, the bank would still have foreclosed, bankruptcy or not.

Answer 6

filing bankruptcy will have nothing to do with you being able to own the property again. It will affect a deficiency balance, if there is one. The Court will give you notice if the sale didn't cover the mortgage and court costs and attorney fees.

Answer 7

I don't think so. If the bank now owns YOUR home, it really isn't your home any more. But, I'd actually check with the bank that bought it and get in touch with a lawyer or someone to see what you can do.

Answer 8

Research your state’s laws regarding foreclosure. I found out that in Missouri, the owner has a certain amount of time to make good on their debts and reclaim the house. I think it had to happen prior to the auction though.

Answer 9

all sales are final. it's gone someone else now owns it.your way way to late to do anything

Answer 10

Too late.