Re: Short Sale after Sheriff Sale?

Posted by Nick(Colorado) on September 26, 2007 at 15:53:44:

In Reply to: Re: Short Sale after Sheriff Sale? posted by Marge on September 26, 2007 at 14:38:01:

Marge:

It does not sound like a scam to me. However I
think that scam discussions, or theoretical
discussion about what a short sale during a
redeption means, are not really helpfull here.
Most of the long redeption states, like Michigan
or Minnesota, have deficiency and other recourse
paths for lenders.

You mention that there is a second. You do realize
that if the first foreclosure, and second does not
redeem, changes are that you are on line for the
full about of that second. So I would have that
property listed -now- for sale, pending short sale
approval. It is preferable to seek a sale, short
sale, or DIL, in that order before foreclosure. The
uncontrolled sale of the property at foreclosure is
the least desirable path to take here.

Follow Ups:


Name    : 
E-Mail  : 
Subject : 

Comments:
The "Reply" function is disabled for older messages. Please visit the Foreclosure Discussion Board for current discussions.