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Foreclosure in 60618 : Real Estate Advice

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Wed Nov 12, 2008
Khayyam Jones answered:
I would contact your real estate attorney. In most states there is a short redemptive period following the foreclosure auction. The timeframes differ from state to state. However, if you still have time to redeem your house, you'll have to come up with the entire amount owed on the property, including all fees, (usually the amount bid at the auction) in cash. Most investors won't invest that much money unless your LTV (Loan amount To market Value) is 60-75% or less. But it's an option. ... more
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