Q: When foreclosed on , can the bank deny selling the home back to the owner if they have a mortgage commitment for owed
I have a mortgage commitment letter for the amount owed on my home. Can the bank or VA deny my offer to purchase the home ? After all I just received a 1099G stating I am responsible for the balance owed. Does that mean I give them the amount owed they give me the deed ?
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- New Jersey
- (973) 798-6131
- View Profile
- Answered
A: The bank can sell the property to whom ever they chose. No, the 1099G is a tax form. The property sounds like it was already sold at sheriff sale. The only way to properly answer your question is with an in person consultation with an experienced mortgage foreclosure/bankruptcy attorney. Good luck.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
