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Foreclosure Freeze for the Short Sale process accomplished is the right thing that lenders should take for those properties under short sale process but having not a buyer in placed yet after a long marketing period exceeding the pre-foreclosure period. The short sale is the solution not the foreclosure proceed.
I missed the webinar, so this was a convenient alternative.
Amazing that the real estate industry has become like the “wild wild west” as it pertains to short sales and foreclosures.
With the moratorium, I find it amazing that foreclosure sale dates still creep in, even when a short sale package is in its final stages of getting approval.
Left hand still not communicating with the right …
I had a BOA foreclosure home set to close October 15th. I have also sold their current home. Fortunately that buyer is in an apartment and willing to wait a short while, but I am about to lose them due to lack of information from BOA. I keep getting conflicting information. Since Kansas is a judicial state, is it going to be an even longer wait than the non-judicial states? And if this particular home has already been through the scrutiny of a law office here in Overland Park, KS, why can’t this sale move forward? It was not just glanced at by a bank employee. It was verified through legal counsel. This home was purchased by BOA back in January this year. The homeowner is out of the home. Why would this be put on hold at this point? Is there anyone out there to contact?
[...] Foreclosure Freeze: Your Questions Answered [...]
[...] High REO Inventories (Sept. 15, 2011)Foreclosure Freeze: Your Questions Answered (Nov 3, 2010)Listen: Foreclosure Freeze: Understanding the Issues Webinar Recording (Oct. 28, [...]
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