What to do if my house isin foreclosure but the bank is not doing anything after 4 years?

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What to do if my house isin foreclosure but the bank is not doing anything after 4 years?

The last mortgage was through a bank, who I assume has lost the original note in the shuffle. I have been living in the home all this time but I had heard from a friend that if 5 years goes by and the bank does nothing, I can submit paperwork to get the house free and clear. Is this true? Is there anything I can do now to legally stop the foreclosure and get my home back without fear of it being sold at auction?

Asked on September 14, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you have not been making the payments on your mortgage or trust deed where your home is security for the home for more than four (4) years and you have not seen any notice of a foreclosure sale of it, it seems that most likely the entity that hold the paper concerning the loan may have lost its paperwork.

In order to ascertain the current situation as to the status of any foreclosure of your home, I suggest you go down to the county recorder's office and pull all recorded documents on your property for the last five (5) years to see who is its legal owner and its current status concerning any foreclosure.

There are no laws or statutes to get your home free and clear if you have not been paying the mortgage on it or if the entity holding the paper does nothing to foreclose upon it in a five (5) year period.

If you want to cure the defieciencies on your home and can do so would be the only way to get your home back without it being sold at auction.


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