InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Forclosure in GA Posted by Bill H on August 03, 2004 at 2:35 PM In Reply to: Re: Forclosure in GA posted by pat on August 03, 2004 at 12:58 AM : : : : I'm working on buying a foreclosure in GA. The payoff statement from the bank includes approx. 19k in interest to date. I am only interested in paying the principal (or less!!!). Would presenting the loss mitigation department with a short sale package do the trick? : : Thank you so much for your help, : : : : Pat Pat: Thanks for your update and info...Now, if you are working on a foreclosure and it has NOT gone to sale there is nothing the bank can do...Simply put they DO NOT OWN it until the foreclosure sale happens and no one bids on it. To do a short sale you will need the current owner to work with you to submit a package. Good Luck, Bill H Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : : : I'm working on buying a foreclosure in GA. The payoff statement from the bank includes approx. 19k in interest to date. I am only interested in paying the principal (or less!!!). Would presenting the loss mitigation department with a short sale package do the trick? : : : Thank you so much for your help, : : : : : : Pat : : Pat: : Thanks for your update and info...Now, if you are working on a foreclosure and it has NOT gone to sale there is nothing the bank can do...Simply put they DO NOT OWN it until the foreclosure sale happens and no one bids on it. To do a short sale you will need the current owner to work with you to submit a package. : Good Luck, : Bill H Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455