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Reverse Mortgage Foreclosure

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troops

New member
What is the name of your state? Minnesota

My father had an FHA / HUD reverse mortgage. When he passed away, the true value of the home was less than the reverse mortgage balance. The appraiser the mortgage servicer hired inflated the value of the home and ignored some needed repairs. I decided not to purchase the home and it went to foreclosure. A lot of the stuff was moved out of the house. Before I could finish, I became very ill for an extended period of time. Some of my friends helped, but we never finished moving everything out. I was told once the house was foreclosed, the mortgage servicer would put the contents into storage and then notify me. I was never notified. When I was able to check on it, the house was foreclosed and they had just thrown everything in a large dumpster they rented.

I was the beneficiary of my father's estate. The mortgage servicer had my information, a copy of my father's will, etc.

What are the laws regarding the contents of the house? Do I have any recourse? Obviously I can't get the contents back.

Thank you for your time.
 


LdiJ

Senior Member
What is the name of your state? Minnesota

My father had an FHA / HUD reverse mortgage. When he passed away, the true value of the home was less than the reverse mortgage balance. The appraiser the mortgage servicer hired inflated the value of the home and ignored some needed repairs. I decided not to purchase the home and it went to foreclosure. A lot of the stuff was moved out of the house. Before I could finish, I became very ill for an extended period of time. Some of my friends helped, but we never finished moving everything out. I was told once the house was foreclosed, the mortgage servicer would put the contents into storage and then notify me. I was never notified. When I was able to check on it, the house was foreclosed and they had just thrown everything in a large dumpster they rented.

I was the beneficiary of my father's estate. The mortgage servicer had my information, a copy of my father's will, etc.

What are the laws regarding the contents of the house? Do I have any recourse? Obviously I can't get the contents back.

Thank you for your time.

I am sorry but you are out of luck entirely. It was up to you to clean out the contents of the house prior to the foreclosure being finalized and you did not. The mortgage company had no obligation to store the contents and had every right to throw away the contents.
 

troops

New member
The sheriff's notice that was posted on the door stated that personal property would be put into storage. So apparently the mortgage servicer and who they hired had a duty to do that. The sheriff said to talk to the mortgage servicer. The mortgage servicer won't respond.

I am sorry but you are out of luck entirely. It was up to you to clean out the contents of the house prior to the foreclosure being finalized and you did not. The mortgage company had no obligation to store the contents and had every right to throw away the contents.
 

doucar

Junior Member
If the statute of limitations has not expired and you can prove what was left and what it was worth, you could try suing the servicer in small claims court.
 

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