Short Sale - Forebearance
I have couple clients who are scheduled to foreclose this week and was wondering what my options were to postpone the foreclosure.
Do you just ask the lender for a forbearance? Is there paperwork that needs to be filled out?
Thanks,
Nate
[addsig]
I have done several forebearances. If it is a week to the sale they will most likely want half of the arrears in the nerxt day or so. I have had banks tell me that witin the last 7-10 days only the full amount will stop the sale. And the first bit of paperwork you will need is an authorization to release information faxed in, this in itself can take several days to hit their system depending on which lender. Good luck
Bri