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The homeowner’s attorney in January had sent a “written forbearance request” to the Pittsburgh lender, citing an “economic hardship due to COVID-19.” The attorney asked the lender to cancel Tuesday’s foreclosure sale and grant a six-month forbearance.Bexar County provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to sex, race, color, ethnicity, national origin, citizenship, gender, gender identity, gender expression, sexual orientation, pregnancy status, age, religion, political affiliation or beliefs, physical or mental disability, genetic information, veteran status, or any nonmerit factor ( except where such is a bona fide occupational qualification) in accordance with applicable federal, state, and local laws governing nondiscrimination in employment. In a lawsuit filed Monday, an Alamo Heights homeowner sued a lender accusing it of violating the Coronavirus Aid, Relief, and Economic Security, or CARES, Act, which prohibits mortgage foreclosures on federally backed loans. Some sales were stopped by property owners filing for bankruptcy in recent days. Not all of the properties posted for the mortgage foreclosure actually sold. If the moratorium isn’t extended, Valdespino and Rolon expect to see a big jump in foreclosures sales starting in August. The number of mortgage foreclosures would have been much higher if not for a moratorium on foreclosures for federally-backed mortgages.įannie Mae and Freddie Mac, which buy loans from lenders and either hold them in their portfolios or package them into mortgage-backed securities, have suspended mortgage foreclosures until June 30. The sales were for two structures that have been boarded up and 18 vacant lots. In other words, they didn’t include someone’s home. The tax foreclosures held Tuesday were for “non-homestead properties,” Bexar County Tax Assessor-Collector Albert Uresti said. “It’s a sellers’ market.”Ĭounty records show 187 properties were posted for Tuesday’s foreclosure sale because of missed mortgage payments, while 20 tax-delinquent properties were posted for sale. He’s been living off his savings for the last year, but he’s ready to start buying foreclosed properties again. The pause on foreclosure sales has put a crimp in his business. Rafati’s livelihood is buying and flipping properties. “It’s feel good to be back,” Rafati said. The Bexar Appraisal District assessed the house at almost $182,000. Even with the nearly $40,000 increase from where the bidding started, Rafait may have gotten a good deal.
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On Tuesday morning, spirited bidding broke out between two investors on a Northwest Side single-family home that Valdespino auctioned.īidding started at $106,458.15 and climbed to $146,000, with investor Kenny Rafati outlasting the other bidder.
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Wolff’s latest order, issued last month, no longer mentioned that the foreclosures sales were canceled - a sign to many that the sales could resume. Nevertheless, a handful of mortgage foreclosure sales were carried out earlier this year and last year, according to property records. Valdespino also was concerned that if he proceeded with an auction, an owner losing the property could challenge the sale on the grounds that it wasn’t a competitive bid because investors had the impression the sale had been canceled. Anyone who violated the order could have faced up to 180 days in jail or a fine of as much as $1,000. Given that Wolff’s order wasn’t clear, Valdespino had said he wouldn’t risk jail time or a fine by conducting his mortgage-foreclosure sales. A tax foreclosure is the forced sale of real estate for nonpayment of taxes. Wolff, though, has said his order only covered property tax foreclosure sales - not mortgage foreclosures. Courtesy Show More Show Less 3 of3Ī sign posted earlier this year on the southwest lawn of the Bexar County Courthouse indicated that foreclosure sales had been canceled. Patrick Danner /Staff Show More Show Less 2 of3Ī sign posted earlier this year on the southwest lawn of the Bexar County Courthouse indicated that foreclosure sales had been canceled. Substitute trustee Rob Valdespino, in the black suit, and his wife Brenda Rolon, on his left, conduct a mortgage foreclosure sale Tuesday on the grounds of the Bexar County Courthouse.