Angry Bank - Friends Forclosure, any ideas? - Posted by Chicago Chico
Posted by Chicago Chico on August 22, 2005 at 16:46:28:
I’m trying to help a friend in this situation and kind of in the middle of a rough spot. Got a buddy in the Chicagoland area of Illinois who waited way too long to try to take care of his forclosure problem. I guess as it stands now they’re in the eviction stage of a completed or near complete forclosure and he finally got together a buyer willing to purchase the property. He contacted the bank and they told him to contact a lawyer, and the lawyer says ‘the client is not interested in negotiating at this point’.
This is bad news all around, because if we can get the buyer to the table I would think everyone walks away happy, but if he gets evicted in the next couple weeks (and the lawyer said they’re at the point of awaiting a date from the sherriff) then he’s going to be sure he destroys the value of the property and then everyone loses.
I guess worst case I can try to convince him not to screw the property up, just deal with it, and try to make an offer after the eviction on behalf of that buyer who’s ready to go right now but I just don’t know.
Does he have any options to delay the eviction proceedings with the sherrifs office? Does he have any grounds or hope for negotiating or getting an offer rolling with a company this angry and disinterested in dealing with him?
Just looking for any possible solutions to this situation besides watching my friend get thrown out on his butt when he has someone lined up willing to buy the house and rent it back to him…