Posted by Jya-Ning on October 23, 2003 at 14:03:20:
I guess the propert is up a lot. Usually 2nd moortgage forclosure still subject to the 1st mortgage.
Try to bring the loan current. It is riskier since you need to come up the money to lend the owner. But if it is easy to sell, you can charge them some interest rate.
Jya-Ning
How can I delay a foreclosure sale?? - Posted by Steve
Posted by Steve on October 22, 2003 at 21:57:44:
Question: I am trying to sell a house in foreclosure status and the sale date is October 31st. The 2nd mtg is a private and they are doing the foreclosure. They will not cooperate because they want the house. Any suggestions on how to legally get the sale date postponed?
Re: How can I delay a foreclosure sale?? - Posted by jasonrei
Posted by jasonrei on October 24, 2003 at 10:33:43:
I’m in Texas. One thing a LOT of people do here to delay a sale is file for bankruptcy. I used to buy at the courthouse. Sometimes I would win the bid on a house and give the trustee the certified funds. A couple of days later the trustee would call me and tell me to come get my check, the homeowner had filed bankruptcy prior to the sale and it was an invalid sale. Sometimes I’d win a bid and when I’d go to pay they’d call corporate to see if any last minute bankruptcy papers had been filed.
Anyway, ask an attorney.