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What does "MOTION TO...VERIFIED CONTINUE HEARING ON PLTF'S MTN FOR SUMMARY JUDGMENT FOR STATUS HEARING IN 30 DAYS...(Cont'd)

Real Estate 2 views 1 answers
GRACE ALEXANDRIA HOLDINGS LLC" mean? I have a second mortgage that was originally Bay Gulf Credit Union (now Mid Florida Credit Union) and this loan has already been charged off. This motion was posted on the docket on 04/19/11. Do I need to be worried about this? I have a contract on my home under a HAFA Short Sale and we have been waiting 90 days for the lender to give us an answer (supposed to be 10 working days). The credit union gave us a payoff that they would accept in order to release the lien and this payoff was good until 03/31/11. Please help me! Thank you.

Attorney Answer

1
Rebecca Kendel ·
It sounds like the plaintiff is still proceeding with seeking summary judgment even though you have a short sale in the works - this is very common. Often I have attended summary judgment hearings to hear the borrowers say they have a short sale in the works and the court enters the judgment anyway, saying that the sale date is far enough out to allow the short sale to complete. However there is no guarantee that the short sale will go through. Having a judgment entered works entirely in the bank's favor and gives them less incentive to grant a short sale since they have essentially won the case already. I would suggest you oppose summary judgment even being entered and the best way to do that is to hire a good foreclosure defense attorney.
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