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Author Topic: Auction coming too soon  (Read 7736 times)

Offline cfush

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Auction coming too soon
« on: April 20, 2003, 11:21:18 pm »
I received a call about a house in foreclosure, not much equity, and the auction is at the end of this month.  

There probably isn't enough time to pursue the short sale with the lender before the auction I wouldn't think.  Since the owner has a 75 day redemption, can I still get the deed from him and move forward with the short sale or am I just dealing with a short sale on an REO now?
Thanks in advance!

Offline tedjr

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75 Day Redemption
« Reply #1 on: April 22, 2003, 06:43:14 pm »
I have never heard of this.  Where are you located and how does it work? What are the costs involved in redeaming a property ?

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile
Ted P. Stokely Jr

San Antonio, Texas

Offline cfush

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75 day redemption
« Reply #2 on: April 23, 2003, 01:00:08 am »
In Colorado there is a 75 day right of redemption period where the defaulting owner can still cure the foreclosure after the sale by paying the related penalties and past payments I believe.

Offline StacyKellams

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There Are Other Ways...
« Reply #3 on: April 29, 2003, 10:59:50 pm »
cfush,

There are other ways to stall the sale. Let the bank know you're trying to work out a deal and they will most likely work with you.


« Last Edit: April 07, 2007, 09:23:45 pm by StacyKellams »
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Offline cfush

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Thanks
« Reply #4 on: April 30, 2003, 03:50:31 pm »
Thanks for the info.

 




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