Comment

Comment by Wendy Rulnick on January 12, 2010 at 12:31pm

Jeffrey - Yes, thank you too!! I had a goof a month ago, lender did not postpone. Ouch.

Comment by Wendy Rulnick on January 12, 2010 at 12:30pm

Sharon - That is great advice. Sometimes we don't get permission to call Attorney, but "taking off docket" good hint :)

Comment by Sharon Alters, CDPE, GRI on January 12, 2010 at 10:45am

I stopped a foreclosure the day before - we had a contract and it was complicated and we needed another week. I did not count on anyone. After getting the okay from the bank, I called the attorney's office to be sure they had been notified AND I called the Clerk of the Court to be sure it was taken off the docket so that it didn't 'accidentally' foreclose. We closed within the next week.

Comment by Jeffrey Smith on January 12, 2010 at 10:26am

Karen,
You can do a shortsale after the final judgement but your time is limited. You must get a complete short sale package together a nd submitted at least a week before actual foreclosure.

Comment by Jeffrey Smith on January 12, 2010 at 10:21am

When dealing with lenders, never take their word for it that a foreclosure has been postponed or canceled. Foreclosures are usually only postponed or canceled within 48 hours of it taking place. You have to stay on them. Take names. Check the online court records for evidence of cancellation or postponement. If your offer isn't even close to the BPO they sometimes go ahead with foreclosure.

Comment by Karen Mathers on November 23, 2009 at 8:48am

Thanks Richard, I must have been talking to the wrong person or the wrong department in the court house. I couldn't believe they didn't have a record of it. I bet it never happened? I tell people all the time that the words "logical" and "short sale" do not belong together.

Comment by Richard Zaretsky on November 21, 2009 at 5:35pm

Hi Karen!

You can easily check the court house records for the winning bid. The clerk has the information on the foreclosure case's docket sheet. It will say who the bid was from and the amount. The clerk issued the day of the sale a "Certificate of Sale". 10 days later if there is no objection by a party with standing (not you) to the litigation, the clerk will issue its Certificate of Title and the legal title to the house will have been transferred.

The BPO is not something unique to short sales. They do it for foreclosures too, so the BPO being ordered could be (1) typical for a short sale, or (2) the left hand not knowing the right hand had the foreclosure sale. Both scenarios are equally possible / likely. After all, when dealing with short sales and foreclosures, expect the unexpected and through out the logic with the bathwater.

Comment by Lynn Pineda on November 20, 2009 at 3:54pm

Great idea for a group Wendy. Its good to be able to see how our short sales are affected here in Florida

Comment by Karen Mathers on November 20, 2009 at 9:25am

I was hoping Richard would see my question . . . he is wonderful! Thanks

Comment by Wendy Rulnick on November 20, 2009 at 9:12am

Karen - That is a legal question. We'll see if Richard Zaretsky will answer. I will contact him

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