Pre-foreclosure experience anyone??

[Corey Barnes]

Essentially, the previous owner has passed on, His family is in a distressed financial situation. The previous owner passed without a will or trust, so the property is intestate.

The family couldn't afford a probate attorney, and didn't understand the process, so they were going to let the home go to the bank, for a tiny mortgage.   What I need to know, is if anyone has ever stopped the foreclosure process by making an anonymous payment, it's behind 4100.00 reported March 2020, And I want to know if anyone has stopped the process successfully.

I've hired a probate attorney to start the process and send a letter of Forbearance, but it could be 6 months until the process completes.  I'm being put forward as the administrator, and will be able to work with the mortgage company then, but want to know if I can do anything now before we lose the Moratorium, I can make the payment assuming 5500.00 for additional penalties, but don't want to flush money down the toilet, the probate attorney is already a be

Any Help is appreciated

[Account Closed]

Originally posted by @Corey Barnes:

Essentially, the previous owner has passed on, His family is in a distressed financial situation. The previous owner passed without a will or trust, so the property is intestate.

The family couldn't afford a probate attorney, and didn't understand the process, so they were going to let the home go to the bank, for a tiny mortgage.   What I need to know, is if anyone has ever stopped the foreclosure process by making an anonymous payment, it's behind 4100.00 reported March 2020, And I want to know if anyone has stopped the process successfully.

I've hired a probate attorney to start the process and send a letter of Forbearance, but it could be 6 months until the process completes.  I'm being put forward as the administrator, and will be able to work with the mortgage company then, but want to know if I can do anything now before we lose the Moratorium, I can make the payment assuming 5500.00 for additional penalties, but don't want to flush money down the toilet, the probate attorney is already a be

Any Help is appreciated

I've stopped foreclosures many times by paying the arrears. There are a lot of things at play here though. If the bank has been properly notified of the passing of the borrower and if they did the foreclosure properly, you take a certain direction. If they were never notified you take a different direction.  That amount in March needs now to include April, May, June, July and August and legal fees, late fees and unpaid taxes.

Was the bank notified or not?

Anyone else on the loan?

Anyone have POA or Authorization?

What week is the sale date? (How much time do you have to work on it)

[Corey Barnes]

Yes I believe the bank was notified,  there is no one else on the loan, I am being affirmed as administrator for probate so I will get authority, but that could be six months.

The sale date is the larger question, nothing has followed the notice of default, the property is in CA so the moratorium is in effect currently until Aug 31st.

I don't know if the 90 day countdown goes into effect during that period, as its been over 90 since the default notice, they may just be blocked by the moratorium

[Mark Pedroza]

Originally posted by @Corey Barnes:

Yes I believe the bank was notified,  there is no one else on the loan, I am being affirmed as administrator for probate so I will get authority, but that could be six months.

The sale date is the larger question, nothing has followed the notice of default, the property is in CA so the moratorium is in effect currently until Aug 31st.

I don't know if the 90 day countdown goes into effect during that period, as its been over 90 since the default notice, they may just be blocked by the moratorium

 Since your being c0nfirmed by the court as the administrator of the estate the mortgage company is going to want to see Letters of Administration that you legally legally represent the estate..

[Corey Barnes]

We are just starting the process, so it will be around 6 months before I get my paperwork etc.

Thats why I wantvtk know if making an anonymous payment now, will halt the process

[Corey Barnes]

Originally posted by @Account Closed:

Originally posted by @Corey Barnes:

Essentially, the previous owner has passed on, His family is in a distressed financial situation. The previous owner passed without a will or trust, so the property is intestate.

The family couldn't afford a probate attorney, and didn't understand the process, so they were going to let the home go to the bank, for a tiny mortgage.   What I need to know, is if anyone has ever stopped the foreclosure process by making an anonymous payment, it's behind 4100.00 reported March 2020, And I want to know if anyone has stopped the process successfully.

I've hired a probate attorney to start the process and send a letter of Forbearance, but it could be 6 months until the process completes.  I'm being put forward as the administrator, and will be able to work with the mortgage company then, but want to know if I can do anything now before we lose the Moratorium, I can make the payment assuming 5500.00 for additional penalties, but don't want to flush money down the toilet, the probate attorney is already a be

Any Help is appreciated

I've stopped foreclosures many times by paying the arrears. There are a lot of things at play here though. If the bank has been properly notified of the passing of the borrower and if they did the foreclosure properly, you take a certain direction. If they were never notified you take a different direction.  That amount in March needs now to include April, May, June, July and August and legal fees, late fees and unpaid taxes.

Was the bank notified or not?

Anyone else on the loan?

Anyone have POA or Authorization?

What week is the sale date? (How much time do you have to work on it)

 I responded but forgot to quote

[Corey Barnes]

Originally posted by @Mark Pedroza:

Originally posted by @Corey Barnes:

Yes I believe the bank was notified,  there is no one else on the loan, I am being affirmed as administrator for probate so I will get authority, but that could be six months.

The sale date is the larger question, nothing has followed the notice of default, the property is in CA so the moratorium is in effect currently until Aug 31st.

I don't know if the 90 day countdown goes into effect during that period, as its been over 90 since the default notice, they may just be blocked by the moratorium

 Since your being c0nfirmed by the court as the administrator of the estate the mortgage company is going to want to see Letters of Administration that you legally legally represent the estate..

 i responded,  but forgot to quote

[Account Closed]

Originally posted by @Corey Barnes:

Yes I believe the bank was notified,  there is no one else on the loan, I am being affirmed as administrator for probate so I will get authority, but that could be six months.

The sale date is the larger question, nothing has followed the notice of default, the property is in CA so the moratorium is in effect currently until Aug 31st.

I don't know if the 90 day countdown goes into effect during that period, as its been over 90 since the default notice, they may just be blocked by the moratorium

I think you may want to talk to a probate attorney. If you are the administrator/personal representative of the estate, you may have difficulty in buying the property without a conflict of interest. I've never done this the way you are trying to and I fail to see the advantage. Maybe there is an advantage that I haven't figured out, but a one hour meeting with a probate attorney is your next step.

[Corey Barnes]

Originally posted by @Account Closed:

Originally posted by @Corey Barnes:

Yes I believe the bank was notified,  there is no one else on the loan, I am being affirmed as administrator for probate so I will get authority, but that could be six months.

The sale date is the larger question, nothing has followed the notice of default, the property is in CA so the moratorium is in effect currently until Aug 31st.

I don't know if the 90 day countdown goes into effect during that period, as its been over 90 since the default notice, they may just be blocked by the moratorium

I think you may want to talk to a probate attorney. If you are the administrator/personal representative of the estate, you may have difficulty in buying the property without a conflict of interest. I've never done this the way you are trying to and I fail to see the advantage. Maybe there is an advantage that I haven't figured out, but a one hour meeting with a probate attorney is your next step.

Im already in contract with a probate attorney, and have been advised, I am allowed to retain a fee for administration,  but waive it to avoid conflict since I am furnishing all legal and repair fees. A contract is negotiated with the surviving heir as to what their wishes are.

im just trying to determine if making a payment to the mortgage company will help at this stage, anonymously is thd only way to do so until I am legally administrator,  otherwise I am just saying a prayer that pending california laws will pass ensuring longer protections.

I spoke with the probate attorney before I took any steps to ensure this was all legal