Help-Anyone Know How To Stop Foreclosure Sale In Georgia-auction Is Tuesday!
i have a deal on a short sale and the lady said she got a letter saying the auction is this tuesday in atlanta. do anyone know how im can stop the sale i know we cannot not file bankruptcy-she already did a chapter 13 and the house was not included as of now.
thanks
I used to buy foreclosures in Macon a few years ago. That would be correct, Ga sales there on the first tuesday of the month. first, contact the foreclosing attorney and find out what is needed to reinstate the property, second, get a poa or warranty deed from her to you ( or your company), third, after and only after you have the warranty deed and the amount needed to reinstate and you have recorded your deed at the courthouse in the county the property is in do you advance any funds, DO NOT give the funds to the person, only deal with the attorney that is foreclosing. You may choose to leave her in the house after purchase but that is your call. you must act immediately, you can get a warranty deed or possibly a Quit Claim Deed( 2nd choice) from any office supply store or download off the internet. you must get this signed and notarized and recorded for your position to be legal. DO NOT advance funds to the homeowner.
2nd choice, buy the property at foreclosure, (Ga is a same day state), then resell , or lease the property back to the former owner.
good luck, let us know how it turns out.
[addsig]
all you can do now is reinstate the loan. All workout programs are out of the question at this point.