House Was Allegedly Sold At Auction For A Default On 2nd

What is the name of your state? NEVADA
home was allegedly sold at auction for a default of the second mortgage. The primary mortgage lender started default proceedings roughly 2wks after its alleged sale date.
One month after, there was a rescission of the default recorded. I assumed the 3rd party had satisfied the first loan.
However, four months later I received a certificate letter from the first mortgage company indicating that my loan had been paid in full. I called them directly to find that regular scheduled payments have been made, taxes and insurance all paid on time and presumably in my name and in the name of the joint owner. I also discovered that the property went into escrow and was sold.
As a result there were several reimbursement checks made out to myself and the co-owner beginning in November, which have all been sent to the property that I thought we no longer had an interest in. I presume the checks were cashed or the company would have let me know this when i requested the recent history.

Your thoughts?

[JETX]

Any bets on 'why'??

[quote]Originally posted by HomeGuru
[b]

Originally posted by DREADIDIT
What is the name of your state? NEVADA
HOME WAS ALLEGEDLY SOLD AT AUCTION FOR A DEFAULT OF THE SECOND MORTGAGE. THE PRIMARY MORTGAGE LENDER STARTED DEFAULT PROCEEDINGS ROUGHLY 2WKS AFTER ITS ALLEGED SALE DATE.
ONE MONTH AFTER, THERE WAS A RECISSION OF THE DEFAULT RECORDED. I ASSUMED THE FIRST LOAN HAD BEEN SATISFIED BY THE 3RD PARTY.
HOWEVER, FOUR MONTHS LATER I RECEIVED A CERTIFICATE LETTER FROM THE FIRST MORTGAGE COMPANY INDICATING THAT MY LOAN HAD BEEN PAID IN FULL. I CALLED THEM DIRECTLY TO FIND THAT REGULAR SCHEDULED PAYMENTS HAVE BEEN MADE, TAXES AND INSURANCE ALL PAID ON TIME AND PRESUMABLY IN MY NAME AND IN THE NAME OF THE JOINT OWNER. I ALSO DISCOVERD THAT THE PROPERTY WENT INTO ESCROW AND WAS SOLD.
AS A RESULT THERE WERE SEVERAL REINBURSEMENT CHECKS MADE OUT TO ME AND THE CO-OWNER BEGINNING IN NOVEMBER WHICH HAVE ALL BEEN SENT TO THE PROPERTY THAT I THOUGHT WE NO LONGER HAD AN INTEREST IN. I PRESUME THE CHECKS WERE CASHED OR THE COMPANY WOULD HAVE LET ME KNOW THIS WHEN I REQUESTED THE RECENT HISTORY.

YOUR THOUGHTS?

**A: post rejected.

Excuse my ignorance, but i don't understand your post. Pleas clarify.

[JETX]

Read the red text at the top of the screen.

Um what? There are several things in red, shall I guess which you are referring to or would you prefer to simply tell me?

Not sure what all the cryptic messaging is about. I have never utilized a message board, and, once again appologize for my unfamiliarity.

I was simply trying to get a little feedback on whether this sort of scenario happens often or maybe a few suggestions on whom I SHOULD speak with -- nothing too elaborate. If it is not your forte, why respond at all and if I am doing something wrong, please educate me.

[HomeGuru]

Then educate yourself by going on a major search engine and searching for bbs rules, email manners, forum procedures etc.

Point taken. Now if I may offer something back to you as well. I am not an ignorant person, but as I explained initially and apologized for, this arena is new to me and I am not privy to the code of conduct, which you have proven, takes precedence over helping real people with real problems.

I did, however, know that using all caps is considered shouting in this forum, as you may have gathered by me editing my original post to sentence case prior to the other gentleman referring me to the red lettering at the top of the page.

Once again I am very sorry. I did not mean to offend anybody, nor was it my intention to be disrespectful by not researching online etiquette prior to seeking help on your site as you suggested.

I would imagine that many of the people who look to you for help, are in the midst of extreme personal turmoil and are desperate for answers to sad and very unfortunate situations like losing their homes to a foreclosure and all of the ramifications
of that type of situation. And then maybe when they thought it couldn't possibly get any worse, they realized that losing a home and everything in that home, a career, a car and being homeless was not the end.

What if then, they realized the possibility that somebody deliberately and maliciously sought out to cause it all?

BUT even then, they are not allowed to receive any clarification on this possibility since they "broke the rules" and didn't ask right.

I should have done the research! Darn

[HomeGuru]

[quote]Originally posted by DREADIDIT
[b]Point taken.
BUT even then, they are not allowed to receive any clarification on this possibility since they "broke the rules" and didn't ask right.

I should have done the research! Darn


**A: what do you mean "they are not allowed?"
After the rules are followed, they ARE allowed.

[HomeGuru]

[quote]Originally posted by DREADIDIT
[b]What is the name of your state? NEVADA
home was allegedly sold at auction for a default of the second mortgage. The primary mortgage lender started default proceedings roughly 2wks after its alleged sale date.
One month after, there was a rescission of the default recorded. I assumed the 3rd party had satisfied the first loan.
However, four months later I received a certificate letter from the first mortgage company indicating that my loan had been paid in full. I called them directly to find that regular scheduled payments have been made, taxes and insurance all paid on time and presumably in my name and in the name of the joint owner. I also discovered that the property went into escrow and was sold.
As a result there were several reimbursement checks made out to myself and the co-owner beginning in November, which have all been sent to the property that I thought we no longer had an interest in. I presume the checks were cashed or the company would have let me know this when i requested the recent history.

Your thoughts?

**A: do you have a specific question? A "your thoughts" request is way too general, vague and overly cumbersome.

As I have described the situation, do you get a sense that there was foulplay? If yes, is there any specific document or entity that I should look to in order to clarify this possibility? If the situation described does not seem unusual, what steps do i need to take in order to ensure that my taxes are filed correctly?

I hope that I have narrowed the focus a bit, i appreciate your lending time and knowledge

[HomeGuru]

[quote]Originally posted by DREADIDIT
[b]As I have described the situation, do you get a sense that there was foulplay?

**A: no because I do not have the complete facts and neither do you. I have no idea what actually transpired. It appears that you were in default, walked away and the property was sold at foreclosure. You do not know what really occurred after that.
If there was equity over and above the 2 mortgages including foreclosure costs, then you would be entitled to the overage. I suggest you get busy and investigate the history of the transactions. Start talking to the parties invovled ie, foreclosure Trustee, lenders, buyers etc.
*********
If yes, is there any specific document or entity that I should look to in order to clarify this possibility? If the situation described does not seem unusual, what steps do i need to take in order to ensure that my taxes are filed correctly?

I hope that I have narrowed the focus a bit, i appreciate your lending time and knowledge

**A: Inasmuch as we do want to help you, I hope that you realize that we do not have the pertinent and requisite support information to be able to advise you further.