CanI move back into my home during foreclosure?

We stopped making payments 2 years ago. Foreclosure proceedings began but have been postponed several times. We have gotten nothing in the mail for at least a year. The house was last reported on our credit 2 months ago. We have called the bank and have been given no information other than it has been postponed. can we legally move back in?

Asked on October 7, 2011 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you are still on record title as the owner of your home, you have every right to live in it even though there has been a foreclosure proceeding initiated as to it. Accordingly, if you desire to move back into your home where your name is still on the deed, you can do so.

One of the reasons why the foreclosure sale may have stopped is due to the fact that the lender holding the loan secured by the mortgage (or trust deed) may not be able to have in hand the original trust deed signed by you to proceed with the foreclosure, or it may have simply decided that it does not wish to proceed with the process due to the fact that if it took title to the property, the lender would be obligated for property taxes, insurance and upkeep on the home.

 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.