Foreclosure in 32825>Question Details

Debi, Both Buyer and Seller in Orlando, FL

A friend of a friend etc. says he was able to delay the forclosure on his property for a year, this is

Asked by Debi, Orlando, FL Wed Jul 23, 2008

ivestment property that he built. How did he do that?

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Answers

5
The real question is did it give him time to resolve his situation --- loan modification, short sale or sale? Delays are only good if something positive is being done with the free time. If you are facing a similar situatiion, don't wait to do something because like many other folks have commented...every bank is different. If you need someone to help you with a short sale, I would be glad to recommend someone. If nothing else, contact you bank immediately and see if you are a candidate for a loan modification and ask a realtor what you home might sell for in today's market.

Rick Tressler
407-421-3002
Web Reference: http://www.tcatrealty.com
0 votes Thank Flag Link Sat Jul 26, 2008
Debi,

Get thy to a lawyer for legal opinions. I have "heard" that if one files for bankruptcy you can halt the foreclosure until the bankruptcy is heard by o judge.

phillip.moody@PrudentialNetworkRealty.com
0 votes Thank Flag Link Thu Jul 24, 2008
Yes is very possible, But every situation is different. All banks operate differently from one another. Some banks are more inundated than others. I specialize in the foreclosure market in Las Vegas and Ive had some files that have been in foreclosure almost a year before getting finalized, either it was a short sale or a loan modification.Banks are Like a box of chocolates you never know what you ll get. A rule of thumb though, never count on that. Learn what your local laws are for the foreclosure time line and proceedings.Good luck.
0 votes Thank Flag Link Thu Jul 24, 2008
Debi,
Thats very difficult to tell, but there is help now Florida Legal services is offering assistance to Florida residents who are facing forclosure.
their number is 866-607-2187
Maybe this is how they did it.
Hope this helps.
Rick.
0 votes Thank Flag Link Thu Jul 24, 2008
Hey Debi,

I've heard of banks putting off foreclosure for many reasons, he could have been in negotiations and changed direction many times etc... Who knows? Did you ask him how he did it? Are you in preforeclosure? Congress and Senate just passed a bill to possible help you, it needs to be conference then off to the President to sign, and he stated he will. Check out my website for who we are and call if you need more info.

Broker Dave
Web Reference: http://Two4OneofOrlando.com
0 votes Thank Flag Link Thu Jul 24, 2008
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