I am wondering if any of you can shed light on the logic of the Bank Of New York withdrawing foreclosure filings , not recently, but from 1 to 3 years ago. I have now run in to 2 of them in my short career.
I have an ex-short sale client who has now been living in his house for 3 + yrs without paying a cent. Bank of New York withdrew the foreclosure & refuses to say why.
My HOA (I'm on the board) has a unit in foreclosure (again) with Bank Of New York, started several years ago, they filed, withdrew & then filed again about 6 months ago.
Weird. No comprendo. Huh?
I am aware of 1 like that that is over 2 years old but the foreclosure wasn't withdrawn. The lender simply did not take the property back at 2 sheriff sales. Borrower did finally abandon the house after it had been overpriced on the market. No public offers were made mainly because the sheriff sale minimum bid is almost always too high around here in Akron Ohio. In this case, there were federal tax liens. Perhaps the liens were released. The bank finally did take it back this month but damage has been done. I know a buyer who was interested and it looks like there was bidding as the bank bid was over the minimum bid.