praecipe to vacate judgement

My mortage holder started a forclosure on my home in pa...... a couple of weeks ago I got a letter saying if I dont respond judgement will be entered against me. I filed a response with protonary stating I was trying to remodify with bank. Now I got a letter saying that the bank asked for a praecipe to vacate judgement. Does that mean the forclosure is stopped?

My mortage went into foreclosure I filed a certificate of participation though a mortage counselor does it cover both my husband and me since its only in my name? Does he have to file one too? Wec are legally seperated till I file to stop divorce since we have reconciled. Also Whats a praecipe to vacate judgement? Thanks carol

My mortage went into foreclosure I filed a certificate of participation though a mortage counselor does it cover both my husband and me since its only in my name? Does he have to file one too? Wec are legally seperated till I file to stop divorce since we have reconciled. Also Whats a praecipe to vacate judgement? Thanks carol
Certificate of participation was filed in mortage foreclosure in my name. ....does my husband have to file one too?

No, the foreclosure hasn't yet been stopped.

It appears your lender MIGHT be seeking to withdraw the lawsuit, but usually this is an action done to withdraw a judgment.
it could be your filing, stimulated the lender to withdraw the lawsuit to allow you time to negotiate.

Exactly how their action is related to the foreclosure remains unclear.

Perhaps you might attempt to discuss this in more detail with the attorney representing the lender.

maggee69 said:

My mortage holder started a forclosure on my home in pa...... a couple of weeks ago I got a letter saying if I dont respond judgement will be entered against me. I filed a response with protonary stating I was trying to remodify with bank. Now I got a letter saying that the bank asked for a praecipe to vacate judgement. Does that mean the forclosure is stopped?

Click to expand...

I am a professional banker so I can offer you some insight. The Bank wants to 'modify' your mortgage and to do so would mean to 'vacate' or dismiss the foreclosure judgement that would instigate the forced sale of your home.

Until the motion is adopted the foreclosure is ongoing but I suspect that since the bank did this they want to work with you to save your home.
Unless the Bank sees a mountain of equity in the house, they never want to foreclose . The legal costs of doing so and selling the home at auction are enormous and rarely are recovered from the beleaguered homeowner.

Contact the Banking representative who is handling your modification application and submit the proper documents to speed up the process. Good luck.


Perhaps you can explain to me how I am 'wrong' instead of just 'saying so' . I have been working in the banking field for 25 years. i have directly, and specifically modified mortgages for banks, sold mortgages, worked in credit, worked with attorneys seeking foreclosure and auction.

Please explain how my post is totally 'wrong'. Provide links while you are at it.



Here is a starter course for you.

http://www.financial-edu.com/foreclosure--when-the-bank-doesnt-want-your-house.php

Let me know if you want garlic bread with it.


Still waiting for your links to show that I dont know what I am talking about. Put your money where your mouth is.


Edit;

Here is another link showing how banks instigate a vacate judgement order when the homeowner reaches out to them

http://southfloridatrial.foxrothsch...cancel-that-sale-vacating-a-foreclosure-sale/

Furthermore, the officer in charge of their modification has nothing to do with the foreclosure proceeding and thus calling the lawfirm to do a modification is irrelevant. Its not how it works. But since you arent a banking professional..........you wouldnt KNOW this would you?

You would actually have to live the experience from the inside to know something like that.

The officer in charge of their modification at the bank has to record all the calls and advise them to speak to an attorney before proceedings begin.

But , since I am a banking professional ......and you are NOT..........you wouldnt know any of this would you?

snortle said:

I am a professional banker so I can offer you some insight. The Bank wants to 'modify' your mortgage and to do so would mean to 'vacate' or dismiss the foreclosure judgement that would instigate the forced sale of your home.

Until the motion is adopted the foreclosure is ongoing but I suspect that since the bank did this they want to work with you to save your home.
Unless the Bank sees a mountain of equity in the house, they never want to foreclose . The legal costs of doing so and selling the home at auction are enormous and rarely are recovered from the beleaguered homeowner.

Contact the Banking representative who is handling your modification application and submit the proper documents to speed up the process. Good luck.

Click to expand...

This is your only warning.
Your advice is not only wrong, it's not based on law, simply your ill conceived conjecture or speculation.
If you don't know, don't post.
I warned you previously about increasing your post count just to increase it.
Please post CORRECT information, or you'll eventually be banned for SPAMMING the site.

snortle said:

Perhaps you can explain to me how I am 'wrong' instead of just 'saying so' . I have been working in the banking field for 25 years. i have directly, and specifically modified mortgages for banks, sold mortgages, worked in credit, worked with attorneys seeking foreclosure and auction.

Please explain how my post is totally 'wrong'. Provide links while you are at it.

Click to expand...

Because it isn't just this post, it's several posts.
The bank has retained a law firm, or is using their in-house counsel to file this lawsuit.
The OP should contact the attorney who filed the case, not the bank clerk or the bank vp (banks are fond of doling out titles).
I won't argue this.
I suggest you follow our rules, stop violating the rules, or I'll be forced to apply sanctions.

snortle said:

Here is a starter course for you.

http://www.financial-edu.com/foreclosure--when-the-bank-doesnt-want-your-house.php

Let me know if you want garlic bread with it.


Still waiting for your links to show that I dont know what I am talking about. Put your money where your mouth is.


Edit;

Here is another link showing how banks instigate a vacate judgement order when the homeowner reaches out to them

http://southfloridatrial.foxrothsch...cancel-that-sale-vacating-a-foreclosure-sale/

Furthermore, the officer in charge of their modification has nothing to do with the foreclosure proceeding and thus calling the lawfirm to do a modification is irrelevant. Its not how it works. But since you arent a banking professional..........you wouldnt KNOW this would you?

You would actually have to live the experience from the inside to know something like that.

The officer in charge of their modification at the bank has to record all the calls and advise them to speak to an attorney before proceedings begin.

But , since I am a banking professional ......and you are NOT..........you wouldnt know any of this would you?

Click to expand...

You were warned.
You continued to spew your venomous remarks.
Goodbye.

maggee69 said:

Certificate of participation was filed in mortage foreclosure in my name. ....does my husband have to file one too?

Click to expand...

I suggest you consult a PA licensed attorney to answer this query for you.
If you make a legal misstep, you won't be able to say, "But, some unknown dude or dudette told me so on the the Internet, so it must be true!"

OK, let's dial it back a little. No need for anyone to be banned. This is law and we have lots of differences of opinion! And it can get testy! As we know, the courtroom temperature is often hot, even with air conditioning!