Posted by Michele on October 16, 2002 at 16:25:24:
The property is in Oregon. The owner does not have any rights to the property. They lose them 24 hours prior to auction.
Thanks for your help.
Please Help! Auction Yesterday - Posted by Michele
Posted by Michele on October 16, 2002 at 15:40:59:
I was all set for an auction of a property with about 30k in equity and I call my hard money lender to get certified check ready for this preapproved loan. My lender went hunting over the weekend and did not make it back in time. So, after the auction I called the mortgage company, they did not even know the results of the auction. I did attend and the house did not sell. The mortgage company says I can’t buy until the first of November now. My lender is home and ready to fund. Do you know any way to buy it before Nov.? THANKS!!
Where is the proeprty located…? - Posted by JT-IN
Posted by JT-IN on October 16, 2002 at 15:47:11:
Michelle:
You did not mention where the property is located. Does the owner have any redemption rights in your state…? Dependign upon whether the owner does, and the status of the title, even if you could redeem, would dictate if this strategy is a valid one.
Short of that… you are waiting until Nov 1st… which really isn’t too far away, especially when dealing with lenders and foreclosure. Those are two things that can sure take quite a while, in many cases.
Wish you all the best on this deal.
JT-IN