Supporting, Informing & Connecting People in Foreclosure

Trying to redeem our home in Michigan

We are having huge trouble dealing with Wells Fargo, Freddie Mac and their attorney. My husband was unemployed for six months, missed THREE payments to WF, they sent back the fourth and started foreclosure
proceedings even though he had just gotten a new job and we are able to
afford our home. All we wanted was to repay the missed three payments
and get back on track, but they slapped us into foreclosure.

The housing rep was NO help, we could never get an answer from WF or their attorneys. They immediately set a sale date in May, then postponed that one, plus June and July. A week before the sale in August, WF
called looking for us to WIRE them $4k, no paperwork, explanation, no
guarantees, just to consider us for a modification.
They wanted it August 1st, we did not send it, but received a letter
with the specifics August 2nd stating the deadline was the first. Three
days later the house was sold at a sheriff’s sale. We are in Michigan
and have until February to redeem the house.

We called Freddie Mac, filed complaints with the AG, OCC and congressmen, got NOTHING. We were told last week by WF that we would get an offer this week but it took a week to draw up the paperwork. Today
we received it. We can pay them the entire amount by cashier’s or
certified check. No repayment plan, nothing.

Any ideas for us?? We CAN afford our house, and now they have destroyed our credit and racked up a ton of late and attorney fees.

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Permalink Reply by David Justian on October 23, 2010 at 4:38pm

When is the final date for redemption. Meaning, there has already been sheriff's sale I presume. drjustian@yahoo.com. I am an attorney and I set aside sheriff's deeds. No upfront money.

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Permalink Reply by cat on October 23, 2010 at 5:31pm

February 5, 2011. How much if you set aside the deed?

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Permalink Reply by David Justian on October 24, 2010 at 2:38pm

Please tell me a few things, in what county of Michigan are you? How much time do you have for your redemption period, if any? Who did the foreclosure, was it Fannie Mae, Freddy Mac, Wells Fargo, Chase Bank ? Is your property 'upside down' where your loan is more than your property is worth? Did you talk to a 'housing counselor' before the foreclosure? Did you meet with the bank or its lawyers who gave you a take-it-or-leave-it mortage modification? How long did you live in your home? Thanks.

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Permalink Reply by cat on November 1, 2010 at 1:09pm

We've lived here five years. Loan is Freddie Mac. We met with a housing counselor who didn't really help much. Didn't ever get a loan mod offer at all. We have three months left. We're in Berrien County. Think that's it.

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Permalink Reply by David Justian on November 1, 2010 at 9:51pm

When you say that you have three months left I suspect that you mean that you have three months left on your redemption period. That is plenty of time to get into court to set aside the sheriff's deed. It also sounds as though you went through the Michigan Foreclosure Act because you met with a housing counselor. This was before the foreclosure began, or should have been before the foreclosure began. In Michigan there can be no foreclosure if you ask to see a housing counselor until after three months after you contact a housing counselor. Contact me at drjustian@yahoo.com and let me know whether you want your money back (down payment and five of payments) or whether you would rather stay in the house.

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Permalink Reply by jamesForclosure on December 29, 2010 at 4:53pm

Cat,

What kind of loan is this? conformin vs. non-conforming?

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Permalink Reply by saving my home in floridah on January 2, 2011 at 12:39pm

I had a take it or leave it wells fargo modification last year. they told me if i could not afford it to short sale or foreclose. i told i do not have a choice. wells fargo is not getting 80% of my loan payoff from fannie, and no one is buying my house fo rless then 1/2 of what i paid. so i will sign these papers. i could not pay past aug 2010. ran out of reserves. it sad we are all getting exactly the same things done to us we need to form a wells fargo support group if anyone has access to web sites please form one.

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Permalink Reply by Darrell Kanka on November 1, 2010 at 8:50pm

David,

If you are active in foreclosure defense in Oakland County have I got a case for you !

Please reply dkanka@hotmail.com

Darrell

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Permalink Reply by MICHELLE SAAD on December 3, 2010 at 10:27am

Wells Fargo was purchased from Chase. I have a mortgage with Wells Fargo.
I was going to short sell my home /. When I called WF, I got all sorts of miss information. They recorded finally, that I was asking for a short sale.
I did not make payments for 2 months.
And to my surprise Wells Fargo made my payments lower so I could handle the monthly mortgage. So I am not doing the short sale and repaid the 2 months.

The people at Wells Fargo told me so many incorrect things that it may be worth going to Chase? Or the Congressman or woman in your area. Or if you are on SSI disability or show other need, like family assistance through SSI and send that to them. Never have money in the bank. which is easy these days, they MAY be able to work with you faster.
Do not worry about destroyed credit. it can be repaired in time.
I have never heard of good results once an attorney gets involved. it shows you had money for the attorney therefore you can pay for the house. Just an opinion.

after two months in short sales, I also had a young man call me from Wells Fargo and told me I was in foreclosure and they are going to slap a paper on my door. I told the man I was in short sale and had a realtor. And had decided to stay there. He was confused totally , and just kept telling me I was iin foreclosure. Next day I got papers from Wells Fargo asking for a mediation and how they can help me. Want a copy of the papers? I was amazed they wanted to help. Depends on who you talk with and who reads your papers I guess.

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Permalink Reply by David Justian on December 4, 2010 at 11:23pm

It is nice to hear a good one. Good luck.

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Permalink Reply by David Justian on December 29, 2010 at 4:59pm

My head is spinning. I'll start slowly, 'what county' are you living in? When was the sheriff's sale? Do you have 6 mos or 12 mos for redemption? According to the published notice of foreclosure who was doing the foreclosure, Freddie Mac or Wells Fargo? After you respond I'll have a few more questions for you.