Posted on: 12th Jul, 2010 07:51 pm
My home has been foreclosed on by the bank however I have been informed that I have a six month redemption period to sale the home or purchase it back from the bank with cash payment only for the amount the bank bid on it. Apparently the second lender has disappeared from the picture. A real estate agent has discussed with me the possibility of selling the home for more than what the bank bid hence making a profit for her as well as myself. This seems to be too good to be true and straight out illegal. Anyone know if this is for real? Please help. :(
Hi livelearn!
Welcome to forums!
You will have to buy back the property from your lender first by paying the amount the bank bid on it. Once you get the property back from the bank, then you can contact the real estate agent and try selling the home and earn profit.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to buy back the property from your lender first by paying the amount the bank bid on it. Once you get the property back from the bank, then you can contact the real estate agent and try selling the home and earn profit.
Feel free to ask if you've further queries.
Sussane