Anyone know a thing or two about foreclosures?

[omghidanielle]

And can tell me what's going on with my next door neighbor?

According to the city's Civil Docket, this is the most recent entry:

CMREI - PRAECIPE TO REINSTATE CMPLT

COMPLAINT WITH NOTICE TO DEFEND WITHIN TWENTY (20) DAYS AFTER SERVICE IN ACCORDANCE WITH RULE 1018.1 REINSTATED. (FILED ON BEHALF OF WELLS FARGO BANK,N.A.)


I wish I understood lawyer jargon

 

[Lisa loves Pooh]

I have no idea WTH that means.

I do know that foreclosures are done through the court system--you have to be sued basically. Typically open and shut case though--you aren't paying thus the bank gets your house.

Since it says reinstate complaint--was the house going through foreclosure before but then tabled to negotiate something?

 

[starann]

Lisa Loves Pooh....not always an open and shut case....there was 1 judge in NY (I think) who was finding in favor of the homeowners. He would look over the papers sent in from the bank and they were not 'legal' (had mistakes, were not in form and so on)......so he found in favor of the homeowners. He said if these banks had the money that they do, they better hire lawyers who knew what they were doing!!! Granted he was only 1 judge!!!! But there are times the homeowners can get out of it....loan modifications may be in the works, but the bank goes ahead with the foreclousure...once the modification is complete the bank 'takes back' the foreclousure.

 

[jojo0612]

hubby deals with foreclosed properties all the time. It looks like there was a repreive at one point, maybe to work with bank or to file papers, etc where action was stopped. Now it looks like they can reinstate original complaint and proceed with foreclosure. Just guessing.

 

[omghidanielle]

Well, this is like the 4th or 5th time that Wells Fargo has taken her to court over this house (that, right now, she doesn't even live in). She hasn't made a mortgage payment in over 5 years. The original amount that they were suing her for was $45,000, now they're going after her for somewhere around $60,000. It's absolutely ridiculous and I hope she gets the boot soon.

Here's what it says today:

MTSVR - MOTION FOR ALTERNATIVE SERVICE
23-DEC-2009
09:34 AM
Docket Entry: MOTION FOR ALTERNATIVE SERVICE (FILED ON BEHALF OF WELLS FARGO BANK,N.A.)

 

[cpsam]

I'm an atty in PA. Regarding the various docket entries:

Reinstatement -- Wells Fargo has 30 days from the original filing date to serve the complaint on your neighbor. If the 30 days pass without the complaint being served, they have to ask that the complaint be reinstated (praecipe to reinstate). Reinstating the complaint gives Wells Fargo another 30 days to serve.

Alternate Service -- Service of the complaint must generally be made by the sheriff. If they have tried to serve via the sheriff unsuccessfully, they have to file a motion with the court asking for permission to serve the complaint by another method (ie alternate service). The court may allow them to serve via regular mail, certified mail, posting on the house and/or advertisement in the paper.

Hope this helps.

 

[omghidanielle]

I'm an atty in PA. Regarding the various docket entries:

Reinstatement -- Wells Fargo has 30 days from the original filing date to serve the complaint on your neighbor. If the 30 days pass without the complaint being served, they have to ask that the complaint be reinstated (praecipe to reinstate). Reinstating the complaint gives Wells Fargo another 30 days to serve.

Alternate Service -- Service of the complaint must generally be made by the sheriff. If they have tried to serve via the sheriff unsuccessfully, they have to file a motion with the court asking for permission to serve the complaint by another method (ie alternate service). The court may allow them to serve via regular mail, certified mail, posting on the house and/or advertisement in the paper.

Hope this helps.

very interesting.

Thanks for the info!