QUESTION
who gets the equity after the foreclosure bank sold my condo as their own.Some bank bought it for $100 on their own action than profited of that& me??
Asked on Nov 10th, 2020 on Legal Malpractice - Florida
More details to this question:
There was equity. After the foreclosure BBT bank of the second mortgage sold my condo and their profited and kept this equity from me. Prior to this,.. BBT bank went behind me and without my knowledge paid off my good standing First mortgage with Nation Star without my permission . Prior to this BBT did not have the Original Promissory note and the correct account of my payments .( lock of the standing to sue ) I have prove of mistakes do to the Original lender ; Bank Atlantic . Extra principals I have paid some was recorded to pay in to my Interest Instead ( I have my deposit receipts ) These mistakes was never corrected by Bank Atlantic either by BBT. At the mean time It was 45.000 foreclosure in my county to handle by the Court system .Therefore the Speed was more Important than to be fair with a homeowners like me. Please let me know if anything can be down to get compensated and go after BBT bank ? Thank you in advance ,.. Elizabeth K.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
You will need to retain a lawyer to review all the proceeding and address your questions. This sounds like one bank foreclosed and took the sale proceeds to apply them to other lien holder claims. There is no situation where someone buys your "equity" for $100.00 from anyone as thats not how that works. THIS is why you have lawyers defend the foreclosure to make sure things are handled properly. As the property is generally sold at an auction, the lenders are not obligated beyond "fair market value" to get the most they can for a property. If you thought it would sell for more in general, then the private sale by the home owner is where that takes place, not the auction block.
Answered on Nov 13th, 2020 at 11:51 AM
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