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murdenBb · Joined: 16 May 2011 Posts: 1 1.32 Dollars($)

What will a bank do if they find out that a house they are trying to foreclose on is no longer on the property. If the house has been removed, will or can they sue the home owner? The property is in Georgia.

chrisgummerson · Posted: Mon May 16, 2011 4:35 pm Post subject:

If you take something that is legally not yours, then the lender will come after you for the property or file a judgment against you. I would contact the bank and let them know where the property is located and return it asap, before any further legal action is brought against you. In some states, the lender can only retake the property used as collateral, other states allow the lender to obtain a deficiency judgment. In Florida for example, the deficiency judgment can be collected up to 20 years later.

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Posted: Tue May 17, 2011 5:05 am Post subject:

What if the house was demolished a few years ago for a renovation that never took place because of financial hardship?

gmakerley · Posted: Tue May 17, 2011 7:13 am Post subject:

I don't comprehend what I'm seeing here in large part. When a lender files a foreclosure suit on a property, that means they're suing you. In this case, you cite a dwelling that no longer exists. Since you're already being sued for foreclosure, I cannot conceive of a rationale for the lender to file a separate lawsuit because the dwelling has been demolished. Assuming they do, and obtain a judgment, how do they enforce that judgment? This is all so convoluted that my head is spinning at the moment. I feel like Linda Blair.

Fortunately, I don't look like her - at least from the role she played.

The lender is foreclosing on the property, whether or not there's a dwelling in place. I'd have to surmise that they have an inkling that there's only raw land left by now. To have begun the foreclosure process, they'd want to bring themselves up to speed on the condition of their collateral - unless they're off in another universe too.

Why not simply call them up and suggest that they investigate precisely what it is that they're attempting to foreclose on? I know it's not pleasant speaking with your lender once they begin looking for past-due payments, but they might actually be appreciative of your concern for their well-being (not that it'll get you anything).

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What will a bank do if they find out that a house they are trying to foreclose on is no longer on the property. If the house has been remove

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