Post-Foreclosure Remedies?

Even if a foreclosure sale has occurred, a homeowner still may have recourse for regaining title to the property. A recent decision of the United States Bankruptcy Court found that a mortgage company breached its obligation to diligently market the property prior to the foreclosure sale, thus giving the homeowner grounds to rescind the sale. Additional ground for potential relief include the company's breach of a workout agreement, or misleading the homeowner into believing that a workout would be achieved prior to foreclosure.