What will happen here? - Posted by Harry Williams
Posted by Harry Williams on January 17, 1999 at 19:19:42:
I have a pre-foreclosure deal I am working on, where the owners signed over a warranty deed as well as quit claim deed and power of attorney. Property was due to go to the sale within a couple of days. I got the attorney to order reinstatement figures, which unfortunately would take 48 hours, it did not come back in time. I also faxed a copy of my deed to the attorney and asked for a 30 day extension of the sale. They said either they or the bank would get back to me, if they decided to do that. This is deed of trust state by the way, in Maryland. So, I recorded the deed. The foreclosure took place, I assume the bank bought the property back, but I haven’t confirmed that yet.
The court ratification normally takes 2-3 few weeks. Do I have any leverage here? What should be the process from here if so? Or am I just out of this deal?
Any ideas and tips would be greatly appreciated.