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One more Forgettable Friday is upon us. Today, we are joined by Trent Chapman, Short Sale Whiz kid. He’s got a forgettable story for us today.
Trent had a short sale file that went to foreclosure. This occurred because Trent’s office forgot to phone the trustee to make certain that the foreclosure had been delayed. This didn’t happen. So the house went to foreclosure.
Nonetheless, Trent was able to repeal this foreclosure. merely to make certain that you heard right, the lender pulled the house from foreclosure and gave it back to the property owners. Trent had to go to the servicer and had a written email in which the servicer had said that the lender delayed the foreclosure sale.
I feel that we can safely say that lenders do not want to foreclose on houses. If they are rescinding foreclosures, clearly they don’t want to foreclose on a house. The average foreclosure takes ten months to complete. Bear in mind that the lender always gets more money with a short sale than with a foreclosure sale. Kevin and Fred have also had a foreclosure cancelled. This is merely one more reason that the banks don’t want to foreclose.
Additionally, we have a new idea for all of our spectators. We would love YOU to be on short sale power hour. We wish for you to disclose your stories of outlandish short sale problems and deals. The lone criteria is that you have to do the opening and you have to do the closing. If you don’t do the clapping and chanting, we simply can not make use of your video. So, get those video submissions in to us today! This is your opportunity to be on the world famous Short Sale Power Hour program! Everybody has a weird account. We want you to communicate your weird tale with us!
Tags: Bank, Foreclosure, Overturns