Posted by BankRobber on February 19, 1999 at 19:06:28:
Yes, the property owner has the right to reinstate the loan prior to sale (unless it was a ballon payment loan and the loan is due in full). However, I suspect that the Realtor has misinformed you. I would bet that the sale has already taken place and that the property is now in the owner’s redemption period. The Lender can’t reinstatement of the loan during the redemption period.