Losing Home
Question: We were served with papers that the mortgage holder will be taking possession of our home. My husbands plan is to lock the doors and move away. My fear is coming home to changed locks and life time of memories auctioned off to strangers.
Is there anything at all that we can do to save our home?
It is currently for sale which was agreed upon by all parties involved.
Answer: If the mortgage holder has notified you that they are starting power of sale proceedings, you should discuss your options with the mortgage holder. If they have agreed to allow you to sell the house, then it seems strange that they are now proceeding with a power of sale.
If you cannot reach an agreement with them, then your husband’s approach is correct. You should find a place to rent, and move, so that none of your possessions are in the house when the bank changes the locks, if that is what they are going to do.
For more information, you should consult a lawyer or a trustee in bankruptcy; they will want to review the actual letters and documents the mortgage holder has sent you so that they can advise you fully.