Q: Our home was in a sheriff's sale, but no bids were made, resulting in the property being retained by Deutsche Bank
What options in reinstating the loan and re-obtaining our property? We have not seen a copy of the note, only in writing in the judgment from the court documents, stating that Deutsche is the registered holder of Ameriquest Mortgage Securities Inc. Asset-Backed Pass Through Certificates.
A: It is not at all uncommon for no one to show up at the sheriff's sale and for the bank to buy the property for what it's owed. At this point re-instating the loan is not an option. Your rights to the house have been foreclosed. You may try to contact Deutsche Bank to try to get a lease-back or you could try to get a new loan to re-buy your house essentially. But your chances of getting one for the same property that you were foreclosed on is not that likely. Before you went to sheriff's sale you had more options, but now they are extremely limited.
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