Is notice of Sheriff sale too late for short sale?

Foreclosures, Short Sales, Tax Foreclosures
1

Hi,

Is it too late to work with a lender on a short sale once the sherriff sale has been announced in the newspaper? I’m from Wisconsin and they post the first notice 6 weeks prior to the sale.

I would appreciate any response.

Thanks.

2

No it’s not too late. Contact the homeowner and start the short sale process.

3

This is perfect timing.

4

Great! Thanks for the response. :biggrin

5

6 weeks is a great amount of time to work on a short sale. You are lucky. I’m in MD which has a much shorter timeline.

6

Has anyone or anyone’s client tried the HopeNow or Project Lifeline to “pause” their foreclosure for 30 days? I know that’s not much time to close a short sale, but perhaps the lender will stall anyway once a bid is submitted?

7

I had a client who had a sheriff sale the day after the program was announced. I had just gotten all the paper works for the short sale…she contacted me with days to go. I contacted the lender and interject the program, to postpone the sale, they said it was too late. I gave the number to the borrower to call, that did not seem to work either. We called the attorney…nothing. The bank REO the property a day later.