My first SS, but there may be a problem

Foreclosures, Short Sales, Tax Foreclosures
1

Hello All,
This is a great forum, I am so happy I was able to find it.
I submitted the paperwork for my first short sale offer a week ago, I had not received any response from the bank yet, I was told to contact them the middle of this week for an update. But, just this weekend (7/14) I happened to check the county records, just in an idle moment, to my surprise a final judgement of foreclosure had been granted on 7/13.
Is my deal totally dead in the water?

Hope I can get some input from those with experience.
Thanks.

2

Did the ad say that the property had been sold or that the auction had been scheduled?

As long as the lender has not taken the property yet (that is, the borrower still owns it), you can work on your short sale.

Presumably you have authorization from the borrower to talk with the lender, so why not just call them and ask where you stand?

3

What state are you in? How long of a redemption period do you have? It’s not the end if you have a long enough redemption period, but some lenders are more motivated BEFORE the sale than after.

4

Thanks for the help,
Yes I do have authorization to contact the bank regarding the account.

I finally got a call back from the bank today, thought I would wait till I heard from them before posting an update.
There is still time for the opportunity of a short sale
The foreclosure sale is set for 7/27, and they claim that my offer is being considered.

There is still hope, so I’ll see where this goes, it was just a surprise the see the final judgement of foreclosure before hearing from them, well, I am also aware that sometimes banks do not respond any at all to offers submitted.

5

I think the final judgement of foreclosure is just legal speak that means the lender now has the legal green light to sell your home. The lender will not stop foreclosure proceedings just because they have an offer on the table now. They have been working this foreclosure for months.
I hope your offer is in their ballpark so that they will at least postpone the auction to give you more time to get things together and make sure your offer will truely work for you.