Open Question: I have a lien on a house and the bank that has the note bought it in a foreclosure sale, what happens to lien?

Open Question: I have a lien on a house and the bank that has the note bought it in a foreclosure sale, what happens to lien?
House went to foreclosure. I have a lien. The bank who holds the mortgage note bought it in a judicial sale. What happens to my lien?
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Open Question: what will happen?
What will happen? what will happen if I am buying a new home and going to rent my current home out and they dont make the payments on time and it goes into foreclosure? My home is currently up for sale but Iam going to rent it till it sells.
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Open Question: When should we get a place?, ready to stop mortgage payment, will try short sale/ deed in leiu of foreclosure?
Upside down, can hardly make mortgage payment so we want to get out of this house. We'll try to sell it as short sale or deed in leiu of foreclosure with a Realtor. My question is should we stop making payment starting now and try to stay here for a few months while bank is processing short sale/ deed in leiu or should we get a place now before credit hit and move out in a few weeks? We don't even have 1st, last deposit for the rent so we would like to save some money as much as we can but if we wait until later to get a place, our credit will be ruined, right? When do our credit report show our non payment ? A month or later after the non payment? Thanks.
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Open Question: Are emails legally evidence?
Owned a house and mortgage was in arrears, coming close to foreclosure. Lawyer I had who was a friend of my friend at the time was helping me and advised me to do a deed transfer. She specifically told me the bank can not foreclose on me if I do the deed transfer and that this was my only option out of the mess I was in. She informed me she found someone (a business friend of hers) who was interested in doing the deed transfer and wanted to work something out with the bank for the property. I did the deed transfer. New owner did nothing with bank or property. The house foreclosed last year. I found out about almost a year later that doing a deed transfer does NOT stop foreclosure. I know I made a big mistake by trusting this lawyer and not looking into what she was telling me. At the time I had no reason not to trust her. Since I now know what my lawyer told me regarding the deed transfer and foreclosure was false, is that considered malpractice, fraud, something else? She misled me and wrongly advised me. The only proof I have though are emails between us regarding this. Are emails considered evidence? Are they just as good as a paper document as proof?
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Open Question: Does anyone know if there's a difference on your credit rating if you A) Give your house to the bank, or B)
B) Go into foreclosure?
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Local foreclosure rates worse than national figures (Daytona Beach News-Journal)
The number of American homes facing foreclosure jumped 57 percent in January from a year earlier, with lenders increasingly forced to take possession of houses they couldn't unload at auctions, a mortgage research firm said Monday.
Source: www.news-journalonline.com

Open Question: Is it just me, or does it seem like they are playing the same newscast OVER, and OVER, and OVER…???
Every day, it's the same : "Possible recession…. blah blah blah…… subprime crisis…… blah blah blah…… more foreclosures…… blah blah blah…… the dollar is falling…….. blah blah blah…… " I mean, how many times can they repeat this stuff? Isn't anything else newsworthy happening in the world???
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State's foreclosure rate up double-digits (BizJournals)
Tennessee had the 16th highest foreclosure rate in the United States in January, according to RealtyTrac's January 2008 U.S. Foreclosure Market Report.
Source: www.bizjournals.com

Open Question: Whose Side is Bush on, BIG Business or that of the American People?
WASHINGTON (Reuters) - The White House said on Tuesday that advisers to President George W. Bush would recommend vetoing a U.S. Senate bill aimed at preventing home foreclosures stemming from the subprime mortgage crisis. http://news.yahoo.com/s/nm/20080226/pl_nm/usa_subprime_bush_dc;_ylt=Ak_2kdxN7eoCUkyNaxr0Awqs0NUE Congress warned: Bush likely to veto oil taxes WASHINGTON (AP) — If Congress passes legislation to roll back nearly $18 billion in tax breaks for large oil companies, advisers to President Bush will recommend a veto, the White House said Tuesday. http://www.usatoday.com/news/washington/2008-02-26-oil-taxes_N.htm?csp=34 Bush Again Demands Telecom Immunity (CBS/AP) In his radio address today, President George W. Bush again called for retroactive legal immunity from class action lawsuits initiated against telecommunication companies that participated in the government's wiretapping program without court-ordered warrants. Your Thoughts? http://www.cbsnews.com/stories/2008/02/23/national/main3868291.shtml Congress wouldn't be RAISING taxes on Big Oil companies, they'd be rolling back their tax cuts. That's the good ol' Republican tactic of saying "Democrats favor higher taxes." Well, "higher" than WHAT? The oil companies are lucky they got tax breaks at all. Exxon Mobil had $40 BILLION in PROFITS in 2007 alone. I think they'll be okay without their tax breaks and need not pass that cost on to the American consumers.
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Tags: foreclosure, home equity loan