Legal Question in Real Estate Law in California
Wells fargo quickly threw out our loan mod then sold our home. We filed suit before the sale but the new owner is evicting us. A friend is telling us the eviction court will stay that suit until our suit is settled.?
4 Answers from Attorneys
If you are going to get 'legal' advice from random friends, you have no chance of accomplishing anything. Go consult with an attorney in your area who is experienced in lender liability and foreclosure law, to see if the lender has any risk or liability in this.. In general, as long as the lender followed the rules of foreclosure notices and procedures, the lender actions in discussing loan mods or short sales do not delay or prevent foreclosure, unless you got specific written commitment from the lender guaranteeing you delay or something. There are literally millions of foreclosures in the last few years, and until proven otherwise you can assume they were properly handled. That is a normal process for lenders.
Foreclosures are frequently not held up pending negotiations for loan modifications or short sales. They move down separate tracks, handled by separate departments that don't seem to communicate. Now,as to your suit. You didn't say what you alleged in the suit, although I assume you sued Wells Fargo. Did you just ask for money damages, or did you also ask for an injunction and/or get a temporary restraining order? Has the defendant served you with its answer? If you got a TRO, did the defendant comply? In sum, I don't think that randomly filing and serving a lawsuit will stop a foreclosure, nor an eviction following foreclosure. It would have also been necessary to obtain a TRO and, along with that, post an undertaking (bond) to make the bank whole in the event you ended up losing the suit.
If the lawsuit did not stay the foreclosure, it will not stay the eviction. You need a lawyer immediately, or you need to start packing.
You're not going to be able to stay the eviction without posting a sizeable bond. I suggest getting some quality legal advice from a competent real estate attorney ASAP.
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