I just talked with this lady who has a property going to foreclosure sale tomorrow at 12:00p.m. She is going to fax me an authorization tonight so I can call the bank tomorrow morning. Can you guys think of anything that I could do or say for the bank to extend the sale? I have nothing to lose so any off the wall suggestions would be great.
PS- I don’t even know how much she owes yet, she doesn’t speak much english so she couldn’t answer all the questions.
I can’t even believe that you’d find anybody working in that department on a Saturday…
Even if the foreclosure sale were on Monday, it typically takes the lender a couple of days for the ATR Information Form to show on their imaging system.
Yeah, I meant monday. lol What is the ATR information form?
ATR is Autorization to Release information. You fax it to the bank, it takes 24-48 hrs. to get into there system. I think you would have to fax them an offer along with the ATR for them to even think about stalling the sale. The only other option is that you SUGGEST to the homeowner is to file Bankruptcy. Don’t tell her to do it. If you do you can get in trouble because you are not an attorney. May be easier to move onto the next deal.