Posted on: 11th Jul, 2013 12:18 am
I am thinking of short sale for my property. I understand that there will be an expiration date for the short sale of the property. What if the property does not sell off within that time period? In most cases I have heard that the lender extends the expiration date. But if they do not, then will they foreclose the property?
Hi SS,
Unless you apply to the lender for a short sale, you won't be able to know what he will actually do. It will be completely the discretion of the lender whether or not he will extend the expiration date of short sale.
Take care
Unless you apply to the lender for a short sale, you won't be able to know what he will actually do. It will be completely the discretion of the lender whether or not he will extend the expiration date of short sale.
Take care
Hi SS,
The lender can foreclose the property if the short sale does not take place on time.
Thanks
The lender can foreclose the property if the short sale does not take place on time.
Thanks