Expert: Dick Dennis - 9/3/2009

Question
my mortgage company let my home be sold in a tax sale 12/08. they have not contacted the courts to pay the taxes and they are not on the deed. i still have a mortgage on the property but i feel the mortgae company should have never let us get in this mess. i faxed them all the information when the tax sale was going to be but they did nothing. since they are not on the deed and it has been sold what are my options? i cna redeem the property by 12/09. thank you in advance for any ideas in this mess.

Answer
No, Wendy, you do not have a mortage on the property. You may have the original mortgage copy, but you no longer have a mortgage. No doubt your monthly payments, which you obviously fell behind in paying, included the property taxes and insurance. When you stopped making the mortgage payments you also stopped paying your property taxes. And to protect their interests, the bank put the property into foreclosure and indeed repossessed the property. THAT gave them the right to sell the property for the taxes. To verify what I have just said, just go down to your county courthouse and verify who the owner of the property is. Chances are it is the bank, and now maybe the person who bought the property taxes obligation. You may toss the mortgage you presently hold.

If by some chance your monthly payments did NOT include the taxes and insurance, then you should hire a good local real estate attorney to protect you interests. I do wish you well.

Dick Dennis
dixiedee13@aol.com