Ask Experts Questions for FREE Help !
Ask
    andreasantos's Avatar
    andreasantos Posts: 1, Reputation: 1
    New Member
     
    #1

    Apr 19, 2012, 02:52 PM
    Short sale-foreclosure
    I have a house under my name that it has been listed for short sale and it was denied by the bank for the amount offered and the bank accepted 2000 dolars over the offer, he agreed, but somehow he has to apply all over again for the short sale but at the same time I received a letter from the circuit court to be answered in 20 days, I am very confused as to what to do, I could not get a hold of the case manager at the bank either my realtor, what to write to the bank in response to the summons? I can not afford a lawyer and I am very worried about this. The house is empty and already have lots of expenses, I need to sell it asap, but now I don't know what is next, please help with advices and what to write back to this court,thanks
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Apr 19, 2012, 02:58 PM
    You inform of the court of this, if they foreclose before it sales, the sale if off. Inform bank, real estate agent and buyer of all of this. If they have already agreed it should be a matter of one day to get a new offer in, and acceptance.

    The bank is merely continue the foreclosure in case the short sale falls though
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Apr 19, 2012, 03:01 PM
    You answer the court by telling them you have an approved sale and show them copies of any documentation and approvals you have.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Short sale or foreclosure [ 2 Answers ]

My got a property loan $ 240000, and the property price market is now $200000, it's in Arizona. Can I short sale it or foreclosure it is better? Also only my name on the mortgage, but my wife name is in the (deed) title as well. If the house is foreclosure will it be any affect to my wife? Thank...

What best fit for me Foreclosure, Short Sale, Bankruptcy [ 1 Answers ]

I bought home at 2003 in 2005 took equity from this home and bought two another homes. Now I have big problem I could not sale these homes and don't have more power to pay mortgages. Price goes down and is much less than I have paid for these homes. I would like leave for my old home which I...

Foreclosure, Short Sale, or Bankruptcy [ 2 Answers ]

I bought home about 2 years ago for 570k now price have dropped to 470K or less. I hove no more power to pay for this home. I stop my pyments. What is better for me Foreclosure, Short Sale, or Bankruptcy and how it will be effect for me? I will be need to pay difference ( about 60-70K) between...

Short Sale v. Foreclosure [ 4 Answers ]

I am in desperate need of advice! My husband and I bought our house in 2004 and have refinanced twice since then, due to medical bills, job loss, etc. My husband got taken for a real ride with this last refi he signed. We are currently in a negative am adding $2000 a month to our loan... we need...


View more questions Search