Asked by Ilana Hairston, Ypsilanti, MI • Wed Aug 25, 2010
I placed a short sale bid in May this year. Although two people were named on the agreement, only one co-signed the contract. My agent seemed satisfied that that was sufficient. After several months of delay, in which we were told that the paper work is at the bank, it turned out - in late July - that they were looking for the second owner to sign some sort of release. Several weeks later i was informed that the co-owner, is actually a co-borrower, and was not cooperating with short sale process.
Today i was informed by my agent that the property was auctioned off, on a Sheriff's sale, in late July.
Obviously i am quite angry and feel that i have bot been represented properly. But i'm not sure what is the best course of action. The last contact with my agent, she advised that i hang in, because the Sheriff's sale my work to my benefit, however the redemption period will expire in January, and who knows what will happen then.
Any advice, insight?
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