Foreclosure

[Skipper 2021]

I received a foreclosure notice from the Holiday Inn Club We have decided to let it go because we can’t afford it anymore also we have not made payments for over a year now due to health issues Do we have to be at the sale?

 

[theo]

No. Since you clearly do not intend to object to the foreclosure, no further participation of any sort will be required or expected of you. There won't actually be any version of a public "sale" anyhow; it's a paper process. If there is a loan default involved, there might be negative credit report consequences down the road, but that is not a certainty.

 

[Bmatrose]

I received a foreclosure notice from the Holiday Inn Club We have decided to let it go because we can’t afford it anymore also we have not made payments for over a year now due to health issues Do we have to be at the sale?

How many points did they foreclose on?

 

[Skipper 2021]

No. Since you clearly do not intend to object to the foreclosure, no further participation of any sort will be required or expected of you. There won't actually be any version of a public "sale" anyhow; it's a paper process. If there is a loan default involved, there might be negative credit report consequences down the road, but that is not a certainty.

Thank you

 

[Skipper 2021]

Thank you

Do we have to sign any paperwork

 

[Grammarhero]

Do we have to sign any paperwork

If the foreclosure is a non-judicial foreclosure, estate foreclosure, or judicial REM foreclosure, then there's no need to sign any paperwork. mind sharing if your credit got affected? It would help tuggers in similar situations moving forward.