what does this letter mean? can i still do a short sale?

Foreclosures, Short Sales, Tax Foreclosures
1

someone i know received this letter in the mail:

Dear Home Owner:

On 1/11/06, I attended the Sheriffs’ Sale on your property. For your records the bid amount was $ 41,250. This amount is now due in full plus interest. You are now in the “redemption period” of foreclosure. However, you still have some time available but the redemption period will end soo.

Now the good news, I have viewed the property and was satisfied with the condition. I researched the title and will gladly arrange the necessary funds in the amount of $ 41,250 to redeem the Sheriffs’ Sale. Once the title is conveyed the purchaser may then direct additional funds for repairs on the property and offer you low monthly lease payments.

We are not a mortgage company or broker. We use our own funding and therefore we focus solely on the property and not you credit or income. Making it fast simple- the way it should be.

If this sounds like music to your ears please contact me today. Speak directly with the decision maker.

2

Sounds like the sale has already happened and its in the redemption period. looks like the letter is offering to buy the homeowners redemption rights. Its too late for a short sale at this point.

Check you foreclosure laws.

http://www.stopforeclosure.com/Foreclosure_Laws.htm

Good Luck,

Tony

3

the person sending the letter to current owner wants to buy the house for the amount that it sold at auction plus the interest…by using your clients redemption rights In the state of NM owners have apprx 120 days to come up with the money and save the prpty after it is sold at aution…the person sending the letter would pay off outstanding balance and your clients would redeme the property and give title to the person sending letter. The only advantage to your clients would be they could stay in the house.
Let me know if this helps. Good Luck