Re: Help extending the preforeclosure period - Posted by Ben (FL)
Posted by Ben (FL) on March 18, 2001 at 10:54:02:
Perjury is lying under oath, so no it’s not illegal. Also, there is a very precise process that must be followed for a bank to foreclose. First there’s service of a Lis Pendens, then there’s a hearing where the judge says "OK, the bank is entitled to “X”, and the attorney is entitled to “Y” and the house will be auctioned on this date. Introduction of a question as to whether a defendant has had the opportunity to respond might put off the date of the hearing.
People, lawyers I should say, file documents with the court all the time to delay processes. Is it right? Morally? I don’t know. Is it illegal? Absolutely not.
Plus, I’m not trying to help someone deadbeat keep their house longer. I require that the contract I sign with them stipulates that they are moved out of the house within 30 days after signing. Either they move out voluntarily with me, or the Sheriff kicks them out at the request of the bank, later. My only purpose for trying to put off the sale is that I need extra the time to market and sell the house. I’ve gotten involved with many houses in preforeclosure, and sometimes 30 or 45 days is just not enough time to sell the house. I’ve spent significant amounts of time and money marketing a couple of houses that I had not sold by the auction date. So I’m out and the owner’s upset that I couldn’t help them (despite all the disclaimers and disclosures that I may not be able to help).
Why don’t I just buy the house? Sometimes I do if the conditions are right. I could do the “subject to” thing, but that would require me to lay out $5k to $10k to reinstate the loan. Even if I had a pile of cash or a partner with the cash, putting the cash at risk severely limits the number of houses I can go after.