Bank Overturns Foreclosure For
A new Forgettable Friday is upon us. At present, we are joined by Trent Chapman, Short Sale Whiz kid. He has got a forgettable story for us today.
Trent had a short sale folder that went to foreclosure. This happened because Trent’s office forgot to call the trustee to make certain that the foreclosure had been deferred. This did not happen. So the house went to foreclosure.
However, Trent was able to rescind this foreclosure. merely to make sure that you heard right, the lender pulled the house from foreclosure and gave it back to the property owners. Trent had to go to the servicer and had a written email in which the servicer had said that the bank postponed the foreclosure sale.
I believe that we can safely say that lenders do not want to foreclose on homes. If they are rescinding foreclosures, clearly they don’t want to foreclose on a residence. The average foreclosure takes ten months to complete. Keep in mind that the bank always gets more money with a short sale than with a foreclosure sale. Kevin and Fred have also had a foreclosure cancelled. This is just one more reason that the lenders don’t want to foreclose.
Additionally, we have a innovative idea for all of our listeners. We would love YOU to be on short sale power hour. We want you to share your stories of crazy short sale troubles and deals. The only criteria is that you have to do the opening and you have to do the closing. If you do not do the clapping and chanting, we just can not make use of your video. So, get those video submissions in to us today! This is your opportunity to be on the world famous Short Sale Power Hour program! Everyone has a bizarre narrative. We want you to share your senseless account with us!
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