mtg co. runaround

[fran1]

What is the name of your state? Alabama

My house has been scheduled for foreclosure two times. First time, I set up payments--3 months on time--3rd payment was a few days late (December 2006)--mortgage co. sent money back. Another foreclosure date was set. I advertised my house, got a valid contract and buyer's pre-qual. Called mtg. co. Followed all of their instructions on what to send them. (amount of contract would have paid mtg. co.'s foreclosure amount). Sent info; followed up next day; they said to send info somewhere else; did it; followed up; said send it somewhere else--this went on for @ one month with daily contact and dialy resending (via fax with message recipient proof), but could never get any answers from anyone about offer. On morning scheduled for foreclosure, I called the atty who was handling foreclosure and he said it was still on; called Wells Fargo, they said sale was still on; called HUD, they said Wells Fargo shouldn't foreclose with a viable contract offer. I went to courthouse steps at noon. My house had been taken off list. Called back foreclosure atty-they said it was cancelled,didn't know why; called WF, they said foreclosure sale still on--I told them no,it had been cancelled. After @ hour of getting run-around, they said they had misplaced my title?? (I did title search--never listed in my name since I assumed the mortgage 14 years ago). WF sent me numerous letters over the last two months thanking me for working with them (I just gave up out of frustration and taking so much time off work thinking I was doing the proper protocol stuff). May 3, I got letter from 2nd mtg holder (Compass Bank-whom I had been in contact with during Jan. and Feb and they too were waiting to see what WF did), stating pay @15k by May 30, or they would begin foreclosure. On May 25, got letter from WF saying send $601 by May 30 and for the next nine months and all would be well in paradise (note-I've had no contact on my side with WF since late Feb.). This would be fine, but now I had the $15k from Compass--$601 I could handle; 15k I couldn't. Called the local HUD office back-(the local office here is like dealing with MacDonald's drive through personnel); and they said they would call someone in Oklahom and try and find out if I had any options. What should I do? Do I have any recourse because I (kept great records), had qualified buyer (who's since moved on) and followed all WF's instructions but still lost the buyer. Now the house has even more fees tacked on, and it's getting close to foreclosing at mkt. value without improvements (which I can't afford to do [@4k]. And, the big question is--I had a contract on the house in Feb. and got the run-around, so what would I do if I got another contract--and do I have any recourse against WF?What is the name of your state?

[seniorjudge]

Okay, let me try to help.

First of all, all this stuff boils down to this: You defaulted on your loan.

Now, what is it that you want to do?

[fran1]

yes--I defaulted. I want to sell my house by the next foreclosure date, but if a qualified contract would have the same effect as it did the last time I had one, I don't know if it's worth the time and energy.

[moburkes]

Originally Posted by fran1

yes--I defaulted. I want to sell my house by the next foreclosure date, but if a qualified contract would have the same effect as it did the last time I had one, I don't know if it's worth the time and energy.

Its already on your credit report. The difference is that, with a sale, you might not have a deficiency balance, while, if it goes for sale, you probably will.