What happens if my bank sells my note to another bank while in the process of foreclosure?

Asked over 2 years ago - Ormond Beach, FL

I am currently in a foreclosure. My bank sold the note to a different bank before the foreclosure sale was held. The foreclosure sale was held after the note was sold. Is the sale still valid. A new attorney did not take over for the old bank. The new note holder has not filed anything in the case.

Attorney answers (3)

  1. 3

    Lawyers agree

    Answered . you should have the matter reviewed by a lawyer who handles foreclosure cases. its possible that the sale is valid depending on what documents have been filed. without a review of the documents its not possible to give an answer

    without a detailed review by a lawyer can all the issues raised in your question be appropriately addressed...... more
  2. 1

    Lawyer agrees

    Answered . If it is done properly the new bank takes over the foreclosure. If not done properly then the bank may lack standing and there are issues.

    Likely the investor is the same but only the servicer changed. This is a complex issue and I agree with the other answer that you should consult an attorney with foreclosure experience to evaluate your specific situation.

    Mr. Warrick is licensed to practice law in Florida and Alabama. This response is not legal advice and responing to... more
  3. Answered . The bank who initiated the foreclosure had standing, I presume. Who is the judge? You need a foreclosure attorney who knows the mortgage industry well.

    R. Jason de Groot, Esq., 386-337-8239

Related Topics

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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