Profile picture for user1991649

Thanks for answering my question quickly.

" I want to know if I can buy the same house I foreclosed on? Is there any issues I will face later on "
To Clarify: I owned this house and foreclosed on Sept 2010. Still living in it. I am renting it from the new owner and he wants to sell the house now. My concern is First; if its legal to buy this house.
Second: Will the old lender come after me for any reason.

Please guide me. Thanks a bunch!
meperdesi@gmail.com

  • August 29 2013 - Louisville
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Answers (3)

Profile picture for Todd Kime

As the other person posted.. If they ever do come after you.. it would have been pretty quickly. 

One of my first questions I would ask.. did you file BK with this home as well in 2010?  

Please reach back out to me for I have some other questions for you.

Thanks

Is it possible.. Yes you can Purchase the home.. Allot also depends on when the home officialy came out of your name as well.

  • September 17 2014
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Yes, the bank or servicer who was responsible for performing the foreclosure and subsequent resale can bring a deficiency judgment against you for the net loss.  However, they would most likely bring the suit quickly after the sale of the home.  It is unlikely that they would bring a suit 2+ years post the foreclosure AND resale.  If you would like for us to review your situation and bring in our two attorneys who focus on KY real estate law, please let me know.  [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

The red flags that will come up with purchasing a home you currently rent are:  adequate verification that monthly rental payments were made on time.  Proving that the sales price is legitimate.  And documenting the circumstances that led to the foreclosure.  The fact that the home you lost in the foreclosure is the one you wish to own it again are of no concern to an underwriter.   
  • December 03 2013
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Profile picture for Outer Banks N C
If you are in Kentucky then it is a recourse state so it is possible that the bank, that lost money in your 2010 foreclosure, could come after you for what they lost. A call to a lawyer might be a good idea to get better details about that. If you can get a loan then I bet you could buy the house.
  • August 29 2013
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