I am looking for advice from my firends here.

[2Kblacksleeper]

First off I will say sorry for this is going to be kinda long. I don't post much but i read here everyday. I like it here.

I will keep this as short as possible. I am in the middle of a messy divorce. (I caught her cheating on me with a guy she worked with.) My wife and I split up a few months ago. I moved out first thing. She and I had bought a condo about a year and a half ago. Since we split i kept paying for a while. She never helped once. I got to the point where i could not afford it anymore. I called the mortgage company and they were un-willing to work with me on a short sell or anything else. So i quit paying them. Now fast forward, I just received foreclosure papers today. I do not want to save the property. I have done a lot of searching on line and i can not find out what happens after the sheriff sale. Does anyone know what happens. I know they start the auction at 2/3 the value. What happens to the rest? Can any one recommend an attorney? I am wanting to know what happens after the sale. I thank all of you for your time and answers in advance.

John

[mustangboy]

I would get a lawyer ASAP. You need to talk to someone who can figure out a way to save your credit. She already ruined your life don't let her take you down financially as well. I don't know how a property forclosure works but I would make sure you have documentation that you were the one paying for those months while you were not living there. Good luck!!

[DeckerEnt]

I am not sure but when the property sells at auction, what ever is not covered by the sale you are responsible for. Unless you file bankruptcy.
Keith

[ihave1sweetride]

the bid at sheriff's sale starts out at 2/3rds of they appraised it at. Who ever your mortgage was through will have an attorny at the sale and they will bid the auction up until 1$ from the amount of the mortgage, if noone else bids it goes directly back to the bank.
You will need to look in your mortgage papers or talk with an attorny, there are some of the newer mortgages that state if the house goes to foreclosure that they remaining balance will still be owed by the owner. ( they just started putting in mortgages within the last 4-5 years).
After the sherriffs sale and the bank purchases the house, a local real estate agent will be assigned to find out if anyone is living in the property, and at that point they will start eviction on those that live in the property (personal property). I highly recommend if there is personal property that you remove now. Once there is noone living in the property, or the sheriff does a lockout(sets our belongings on the street) the real estate agent will then get the property ready for market. This happens in a matter of 2-3 months from the date of the sale.

I hope this helps, i specialize in foreclosures in cincinnati, if you need any other help let me know i can probably fill you in.

I would highly recommend talking with an attorny.

[2Kblacksleeper]

THanks for all the info so far. I have not lived there since July so i do not have to worry about that. As far as attorny wise, i jsut have no idea where to look. I know I could look in the yellow or white pages, but I do not want to get stuck with an idot. If you all can think of anything else please let me know. Thanks again.

John