Profile picture for DonJulito

Can a house be in foreclosure and go in a short sale?

  • October 06 2011 - West New York
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Answers (5)

Profile picture for Sonja Babic
Not realy. You have to get short sale aproved before bank starts foreclosure pproces.
  • October 07 2011
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Profile picture for Sharon Lewis
Short sale would be what happens first and then foreclosure, not foreclosure than short sale.
  • October 07 2011
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New Jersey has a very short window of redemption once the foreclosure action has occurred. The owner has 10 days from foreclosure to redeem the property. But often a property owner will have sufficient notice of the foreclosure action to sell the property and have it close either just before or after the foreclosure has occurred.
  • October 06 2011
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A home in pre-foreclosure can be sold in a short sale if in fact it happens before the home is actually foreclosed on by the bank. Meaning, the home hasn't been taken back by special deed through the foreclosure system.I have seen it happen. I just depends on what can happen first. Thank you for your question.
  • October 06 2011
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In Michigan there is a six month redemption period (after the Sheriff sale) when a homeowner can try to settle his/her debt with the lender(s). You would have check the laws in your state. Some states don't have a redemption period.

You might want to check with the lender to see what they will allow and what they will settle for. Open and honest communication with the lender is always best.
  • October 06 2011
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