This troubling story has become a nationwide problem, as more lenders are refusing to consummate their foreclosures of defaulted residential loans. At this point, unless you are willing to be a test case in litigation, there is very little you can do. An aggressive litigating attorney may argue that the bank has caused you to detrimentally rely on the initial sheriff’s auction notice, and therefore the bank should be responsible for all charges that accrue after that date, but this is an untested theory.
How can we get the bank to take our house back? We left it after the lender said they were going to foreclose.
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Ronald J. Drescher has been practicing since 1986 in the areas of business transactions, commercial litigation, loan documentation, bankruptcy, creditors’ rights, and out-of-court workouts. His experience also includes corporate reorganizations, insolvency, business and tax planning.
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