Foreclosure sale next week... Help!!! - Posted by Martha

Posted by IB (NJ) on March 31, 2003 at 16:56:26:

Personally, I would have visited the owner months ago as opposed to sending postcards/letters. You’re virtually guaranteed a 100% response rate.

In any event, NJ allows the owner in default 2 two week postponements before disposing of the property at sheriff sale. Check your state to see what the rules are. Also, often a lender will postpone the f/c sale if you notify them that you have an agreement to buy the property.

Whatever you’re going to do, visit the owner personally. Also, ask her why didn’t she answer your letters. I’m sure you’ll find her answer interesting and informative as this will give you a little more insight on the thought process of people in f/c. Good luck.

Foreclosure sale next week… Help!!! - Posted by Martha

Posted by Martha on March 28, 2003 at 18:40:03:

I need some advice! While reading the local Daily Business Review, I noticed in the upcoming foreclosure sales section, that someone whom I had been sending postcards/letters is about a week away from sale.

My question is: Is it too late to pursue it and call her? If she did agree to me helping her would I even be able to do a short sale in such a short time period? I have read that you can stop the sale by having the owner file for bankruptcy, but not go thru with the BK.

What would be the best way to approach it? Is it even possible?

Thanks for any input you can give me!