Re: Short Sale after Sheriff Sale?

Posted by Rachel on September 25, 2007 at 18:16:14:

In Reply to: Short Sale after Sheriff Sale? posted by Marge on September 25, 2007 at 16:48:38:

I work for a very large mortgage company and no, you cannot. After the property goes to sale it will either be sold to an outside party or an invester. If not, it will go back to the mortgage company who will try to sell it. All the redemption period is is an oppurtunity for you to redeem the property. During this 6 months, whoever buys the house cannot make any changes or modifications to the property as it is 'technically' still yours, but in order for you to get the deed back you would have to pay your remaining balance on the property in full upfront.

So no, I have never come across this and I do not think it would be possible. It MAY be possible if you have an offer on the property for your mortgage company to postpone or cancel the sale date depending on your state. I hope this helps!

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