Home Buying in Frederick>Question Details

C.quinones, Home Buyer in Frederick, MD

Foreclosing? Oh no! What happens then? Thank you all for your responses. I have a home inspection today. I signed all the paper work and just wai-

Asked by C.quinones, Frederick, MD Thu Sep 6, 2012

ting for it to come back to me. I was told that they didn't owe too much on the house.

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Hi C,

Good for you, best of luck in capturing that short sale and helping the owner avoid foreclosure. Once you get the paperwork into the bank and assuming the Seller has a good advocate for the short sale this should postpone any foreclosure proceedings.
1 vote Thank Flag Link Thu Sep 6, 2012
That's good to know, thanks! They never said it was a foreclosure, it is listed as a short sale. the settlement lady asked for my personal info, such as last four of SS# DOB and
phone numbers. Do you know why, is that's a good thing?
Flag Fri Sep 14, 2012
Your other post said you were putting an offer on a short sale and it was accepted. it was accepted by the seller but the bank has to agree and that can take MONTHS. If the bank is pushing it towards the foreclosure auction you may be totally ignored. The sellers agent might be able to convince the bank to accept your offer to buy it as a short sale but I would say you have a steep uphill climb to get them to do that. Once the foreclosure wheels turn it is hard to make them stop.
1 vote Thank Flag Link Thu Sep 6, 2012
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