Foreclosure in Webster>Question Details

Mark Siler, Home Buyer in Canandaigua, NY

If a property is in the final phase of foreclosure, what is the average time frame before the financial institution is ready to sell?

Asked by Mark Siler, Canandaigua, NY Fri Dec 25, 2009

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Michele L Walker’s answer
In California once they post the Notice of Trustee sale on the property you usually have 21 days until the sale,this timeframe may vary by state. I have recently found an organization that is very pro-active in trying to help homeowners save their homes and get your payment reduced,even if you are in the late stages of foreclosure. In the event you do go through the whole foreclosure process, your lender may have a cash for keys program that will help with the cost of moving, if you leave the property in good condition. Feel free to contact me if you need more information.
Web Reference: http://walkingyouhome.org
0 votes Thank Flag Link Fri Dec 25, 2009
Do you mean prior to foreclosing or after the forclosure?

Once they forclose, they usually have Realtor start working on it immediately and will entertain offers almost within weeks of forclosure.

You can call the financial institution to ask them if they have assigned a Realtor to the home.

Until they foreclosure they will only sell through the homeowner via short sale.

I hope this was helpful.

Good luck.
0 votes Thank Flag Link Fri Dec 25, 2009
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