PAY MONEY JUST TO POSTPONE...................WHAT!!!!!

Foreclosures, Short Sales, Tax Foreclosures
1

Hello Gang,

I was doing a short sale with EMC mortgage they were the first.

Payoff: 193,000
Offer: 136,350

The 2nd
Payoff: 43,000
Offer: 4,630 accepted

ARV: 235,000

The situation was the 2nd was foreclosing first. They didnt do anything they were bluffing me.

Long story short on a Friday, the sale date was Tuesday. EMC called me and said I had to raise my offer to 175,000 and I had to pay the attorney fees which were around 3000, plus pay a down payment of around 8,000, JUST TO POSTPONE THE SALE.

So I was thinking I have to pay this money which it was NON-REFUNDABLE, just to postpone the sale. That means they can take my money and still reject my offer, I wasnt willing to go as high as 175k. EMC also told me that they dont postpone sales in Georgia it is a start over state.

I was shocked, there was no way I was going to take that risk.

Has any one ever dealt with that situation, and was is the best solution for that nonsense.

This banks are amazing. They probably say the same thing about us…HA, HA

Thanks in advance!!!

2

I always ask them if they are in the Real Estate industry or the banking industry! They will quickly change there minds. The key is to create urgency “I want to close this end of next week can we speed this up what can we do to get this done?” HELP ME HELP YOU!!! With how many deals are really out there I would not offer them $$ to Restart they probably want you to catch up payments right?

3

Thanks REO,

Do you know if EMC postpones sales, they were telling me that they dont do it at all.

So, if I would of told them that I will pay one months worht of interest, or a payment will they postpone the sale.

4

I had with a similar situation with EMC. They are liars and several unprintable words.

Ray Taylor