Foreclosure Rescinded?

[LadyKay]

I got a letter in the mail today from the law firm that represents my mortgage company. The letter says that the foreclosure sale that took place last year has been rescinded. It also enclosed an affidavit expunging the sheriff's deed on the mortgage sale. What does this mean? Do I still own the home? Are they going to go through the foreclosure all over again? My family and I have since moved because the redemption time was up on the house and the last letter I received from this law firm was that we needed to be out of the house by April 28. We are now leasing a place and have reestablished ourselves else where. In other words I have put the house behind me and do not wish to move back there to only to be foreclosed on again. I'm confused.

[Troy Spiral (13)]

In one case of a house I know of the bank rescinded the foreclosure after learning that the basement of the had two feet of water in it. All the nitty gritty details of your specific situation is what you have to find out.

It sounds like you might end up with the house back in your name(?) and be responsible for it(?). Might end up with a huge pile of bills to deal with if you don't look into it and call to find out if you have the title back in your name or what. Or, it might not mean that at all, the devil is in the details. Probably need to get on the phone and do some research, unfortunately.

Probably just more stress you don't need, but , don't just let it slide, might turn out to be nothing you have to deal with, or it might turn out to be something you need to deal with before it becomes a worse headache.

[LadyKay]

We do have a lawyer looking into it for us to find out just what their intentions are. But it is the weekend so will have to wait.

[LadyKay]

I have done some searching on the net and found an articular stating that MI court rules that Mortgage Electronic Registration System has no authority to foreclose homes in the state of Michigan.

Mortgage Electronic Registration System is the company that foreclosed on my house. The ruling means that all non-judicial foreclosures by Mortgage Electronic Registration System in Michigan are void. I am wondering if this maybe the reason I got that letter in the mail rescinding the auction sale of my house. Though I am still clueless as to what to do at this point. Will wait on my lawyer's answer.

http://thehajekfirm.com/blog/2011/04/27/mi-court-rules-mers-has-no-authority-to-foreclose/

[Troy Spiral (13)]

Wow. Might turn into a class action lawsuit or something even.

[LadyKay]

Well now I am really confused. Today I got a bill from what use to be my mortgage company informing me that my escrow account it short. And that I know owe $400.00 which will be attached to my next mortgage payment due in July! What the crap is going on here! The house was foreclosed on and auction off last year! Of cores there is an escrow shortage, I have not made a payment because it was no longer my house having been foreclosed on and auctioned! I am so lost here. I don't know if it is my house or their house or what! All I know is that I was told to be out by the end of April this year! This is nuts! And.... the mortgage payment amount that is due in July is a regular payment. Nothing saying I missed payments or late fees or anything. Just a regular payment like I was never behind or anything!

[torn asunder]

really need to talk to a lawyer before shit gets *really* complicated...

[LadyKay]

really need to talk to a lawyer before shit gets *really* complicated...

We are doing so now!