Posted by River City on October 25, 2007 at 14:19:39:
These are questions you need to address with your lender. The biggest problem people make when they are experiencing trouble making payments on a loan is to not communicate with their lender.
Short Sales after a Sheriff sale - Posted by Steve
Posted by Steve on October 23, 2007 at 22:43:06:
Hello there,
In MN the redemption period is 12 months for the seller. At the 5th/6th month mark the sellers house goes to the Sheriff sale where the lender buys back the house.
My questions are:
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Can good Short Sale deals be made at this time/the last 6 months of sellers redemption period?
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Do I still submit a short sale package to the lender with a purchase agreement signed by the seller?
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what happens if the lender tells me the property has been assigned to a local law office, therefore they say work with them?
Seriously, is it a waist of my time or can good deals be made at this point?
Thank you,
DJ