Posted on: 09th Jun, 2010 04:32 pm
I have a lawyer and I am in the process of a short sale on my home. I was told by the lawyer that GMAC approved the short sale but we were waiting some final details. Yet GMAC filed foreclosure on my home this week.
I am wondering how this affects things? My lawyer tells me that this is the process of the short sale but this isn't what I read on line . I was under the understanding that a short sale would stop foreclosure.
I am wondering how this affects things? My lawyer tells me that this is the process of the short sale but this isn't what I read on line . I was under the understanding that a short sale would stop foreclosure.
Welcome jek,
If you file for a short sale with your lender it generally stops the foreclosure process. However, if your short sale request has been rejected by the lender, then he can go ahead with a foreclosure. You should contact your lender and discuss the case with him. He will be the best person to let you know whether or not your short sale request has been rejected.
If you file for a short sale with your lender it generally stops the foreclosure process. However, if your short sale request has been rejected by the lender, then he can go ahead with a foreclosure. You should contact your lender and discuss the case with him. He will be the best person to let you know whether or not your short sale request has been rejected.