Posted on: 12th Aug, 2010 01:44 am
I understand there is a ninety day period after the notice of default is given that a person has a chance to bring the payment to current. If not a notice of sale will be sent and 22days are given to evacuate or?.....
I am not sure about this can someone who knows help me.
In that 22 day period does the spouse (on deed) of the defaulted borrower have a chance to buy the house or renegotiate the loans before the house is sold in auction to a different buyer?
thanks
I am not sure about this can someone who knows help me.
In that 22 day period does the spouse (on deed) of the defaulted borrower have a chance to buy the house or renegotiate the loans before the house is sold in auction to a different buyer?
thanks
If the spouse of the defaulted borrower wants to to purchase the property, then he or she will have to contact the lender and apply for it. It would be lender's discretion whether or not he would agree to it. Moreover, the spouse's credit and financial situation would be taken into consideration by the lender.