Re: trustee sale
Posted by steele in minnesota on February 19, 2007 at 12:31:23:
In Reply to: trustee sale
Posted by faith on February 18, 2007 at 07:08:36:
The trustee sale (sometimes referred to also as a Sheriff Sale) is the public action of a foreclosed property. Now we don't have all the details but I am making an educated guess that the lender is proceeding with the foreclosure even with an offer in hand so that should the offer not go together they have not lost any time.
This is fairly typical. If they are pretty sure of the short sale they can always postpone the trustee sale.
Just make sure the everyone at the lender is talking to everyone else and is on the same page.
Steele in Minnesota
Foreclosure Specialist
Schatz Group GMAC Real Estate
Minneapolis, MN
steelep@aol.com
www.MinnesotaForeclosureNetwork.com
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