Thanks

Thanks

Message edited 7/8/2013 11:46:26 PM.

Re: Neighbor possibly foreclosing ?'s

I think a real estate agent may be able to run that info for you.

Just out of curiosity though.......if he's not paying the mortgage, I wonder what the chances are of him paying a fine.

From what I understand, it can take a long time to get someone out of their foreclosed home.

Is your underlying question what to do with a neighbor like this?

Sorry you are in such a sucky situation.

Fortunately no one lives there, but we have an eyesore house a few houses away from us. I don't think it's in foreclosure but our neighbor told us they didn't even bother draining the water out of the basement when Sandy hit.

Message edited 7/8/2013 6:14:50 AM.

Neighbor possibly foreclosing ?'s

Yes a foreclosure can take forever. It depends on the bank and how backed up they are. Not sure why its any of your business if he is or not.

The pool thing you can call the town on. Also you can call on lawn care issues but for that it has to be super high uncut.

I would def be annoyed with the pool thing but foreclosure is a MYOB thing IMO.

Neighbor possibly foreclosing ?'s

Yes, it can definitely take that long. My brother and his wife had a very similar situation on their block and they wanted to buy the house that the guy was living it. After quite a few years of the guy living there without paying his mortgage and bragging about it, the house finally went into foreclosure and was put up for sale and they did wind up buying it.

Re: Neighbor possibly foreclosing ?'s

foreclosing can def. take a long time.

Though this was in Florida, when my uncle passed away my mom told the bank she would sigh the house over to them becaue he owed more on the house than it was worth even with that the forclosure process took year for it to be complete.

Re: Neighbor possibly foreclosing ?'s

Re: Neighbor possibly foreclosing ?'s

Ny has judicial foreclosure, so the bank can't just come in and take the house. On average, it takes about 7 years for banks to foreclose on houses in NY. The banks don't always pursue it all that quickly, and the foreclosure cases wind their way through the courts (often bankruptcy proceedings really delay things -- if the owner files bankruptcy, it will stay the foreclosure proceedings).


But people stay in their homes for many years not paying their mortgage. I am doing a short sale now for a seller who hasn't paid their mortgage in over 4 years (due to financial hardship -- job loss, etc.). After 3 months of not paying, the house will usually have "lis pendens" status, which means a written notice of a legal action has been filed (foreclosure proceedings have been started). "Lis pendens" is a matter of public record, but I don't see how having that information will help you one way or the other. It sounds like the neighbor isn't maintaining is property and/or is involved with shady activities, but him not paying the mortgage doesn't really get you anywhere... the bank is obviously aware and it's up to them to pursue a foreclosure action against him, which will move at a glacial pace and likely won't be resolved for years.

As far as the concerns about the property/lack of maintenance, you could call the town and make a complaint -- esp. if it's a health or safety issue. But honestly, sometimes when we sell abandon homes, we will find citations from the town about issues such as overgrown lawns or shrubbery. Again, whether that will get your neighbor to do anything is not a sure thing, but that seems like something more easily addressed (and more relevant to your concern) than the status of his mortgage payments.

Re: Neighbor possibly foreclosing ?'s

Posted by Sparrow

Posted by alli3131

Yes a foreclosure can take forever. It depends on the bank and how backed up they are. Not sure why its any of your business if he is or not.

The pool thing you can call the town on. Also you can call on lawn care issues but for that it has to be super high uncut.

I would def be annoyed with the pool thing but foreclosure is a MYOB thing IMO.

I'm not trying to but I didn't take this as her being nosy about the foreclosure, I took it that she wants the guy out since he's not keeping up his property. I could be wrong but I just think the op is trying to figure out how much longer she has to deal with an undesirable neighbor.