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Jenny, Renter in Fort Worth, TX

What does it mean when it's preforeclosure and a contract on a house?

Asked by Jenny, Fort Worth, TX Fri Mar 6, 2009

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Answers

3
It means that the seller hasn't paid their mortgage in a few months and their bank is about to take the house back. If they sell before the bank takes it then you will get a clear title and you don't have to worry about paying their delinquent debt.

Naima
214-289-8555
Naima@Sumner-Realty.com
0 votes Thank Flag Link Fri Mar 6, 2009
Preforeclosure.......seller is trying to sell before the house is actually sold at auction. They've either been given notice or posted for forclosure at that point.

Contract on a house.....that just means it is now under contract.

Bruce Lynn
Prudential Texas Properties
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Fri Mar 6, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Jenny,

Please write me off forum (I answered the question about the house you are referring to earlier) at truvaluerealty@gmail.com. It's so much easier than trying to explain everything like this! I promise you, no pressure.

Thanks,

Jackie truvaluerealty@gmail.com
0 votes Thank Flag Link Fri Mar 6, 2009
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