Thursday, February 9, 2012

The process of a foreclosure

I am looking at a new listing that is bank owned. It had a lis pendens filed in July of 2009 and again in January of 2010. On June 16, 2011 a sale to the bank was recorded. The home was than listed on February 8th, 2012. This home is being offered until Feb. 23 through the Freddie Mac First look Initiative. People are always trying to understand how the process of a short sale and a foreclosure work. There is no one way. It depends on so many factors-which bank, how many mortgages on the property, and many, many more factors. Buying a bank owned property is not so difficult because by that point it is owned and able to be sold. On many of those sales there are multiple offers. Short sales are different. Most of them are not approved by the bank until weeks or even months after the offer is presented to the bank. Some go through with relative ease and others never end in a sale. Let me work with you to find the right home for you. Either a privately owned home, short sale, bank foreclosure.

1 comment:

  1. Hi Linda, you showed us a home last year when we wanted to get our feelers out. I'm still here popping in for WS updates...thanks for keeping a great blog.