Posted by richard on March 13, 2000 at 08:56:20:
Thanks for your help.
List price about 117k. It sold last summer at 105k. It might sell at 110k today not much more unless I get creative. Two other houses on block are for sale. Houses sell better in the spring and summer. They put in a security system which I guess has a lien on the property. I will find out with a title search. Who knows what else. I finally got in touch with the sellers, they are getting divorced. She would like to save her credit and is willing to sign the house over but not sure about the husband. The note is in her name the mortgage is in both names. I think I got that right. She wants to preserve her credit and he already has bad credit.
The lender allows the homeowner sizty days to catch up on the late payments before they send it off to the attorney’s. ie: they did not make jan, feb or mar payments and it went to collection five days after the first. A letter was sent on the seventh from their attorney stating they were proceding with foreclosure.
I will talk to the mortgage company. The note was sold and it took a little tracking to get to the person handling the this. I have not talked to them yet, but I have the phone number and left a message. will call again today.
The utilities has been turned off (non payment). In colorado Springs, CO that is not a good thing to do in the winter. The property may be in worse shape then I thought. Will the lendor consider the potential property damage plus his expenses? Or does he care at this point?
again thanks for your help.