Re: Short Sale

Posted by Janie on November 24, 2004 at 16:53:45:

In Reply to: Short Sale posted by CAthy on November 22, 2004 at 14:04:50:

Go to a title company and talk to an escrow officer. They will tell you what you need. There is a price for the escrow company, work a deal with the buyer that they pay all costs, including title insurance.

Go consult with various title attorneys. Get their opinion, in case you cannot afford attorney fees. Take notes and pay attention. Thank them for their time and tell them you'll get back to them when you decide.

Typically, lenders will postpone a foreclosure once escrow has opened, but not for long. Typically one to two weeks.

Don't let this get past the 90-day mark or your costs will soar.

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Comments:
: Go to a title company and talk to an escrow officer.  They will tell you what you need.  There is a price for the escrow company, work a deal with the buyer that they pay all costs, including title insurance.

: 
: Go consult with various title attorneys.  Get their opinion, in case you cannot afford attorney fees.  Take notes and pay attention.  Thank them for their time and tell them you'll get back to them when you decide.

: 
: Typically, lenders will postpone a foreclosure once escrow has opened, but not for long.  Typically one to two weeks.  

: Don't let this get past the 90-day mark or your costs will soar.


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