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Dont let it go...

Posted by UFS on June 18, 2003 at 9:35 AM

In Reply to: help house is going to foreclose posted by dreath on June 17, 2003 at 7:42 PM

You don't want to just relax and assume everything will work out. Most likely, the mortgage company and their attorneys are proceeding on a timeline to a foreclosure sale, which could siphon away the equity you are talking about. Definitely talk to the bank (as recommended in another post) and their lawyers to find out what options you have.

Often times, care is needed in approaching buyers. Many, upon hearing you're about to be foreclosed on, will quickly back out of the deal and try to pick up your home for much less money at the foreclosure sale.

Before you get too close to losing your home, if you run into barriers, consider talking with a competent professional about getting help to save your house from foreclosure ...and allowing that profitable sale to go through successfully.


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