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Updated over 1 year ago on . Most recent reply

User Stats

16
Posts
5
Votes
Patricia Cote
  • Investor
  • Pensacola, FL
5
Votes |
16
Posts

Which comes first in a preforeclosure: contract or call the lender?

Patricia Cote
  • Investor
  • Pensacola, FL
Posted

My first time dealing with a property that has been served lis pendens but not the final foreclosure notice. Seller agreed to let me contact their lender for payoff amount.  Do I get it under contact first or call the lender for the payoff / short sale first?  Seller wants to sell it to me for the amount the lender will accept. Thank you!!!

Most Popular Reply

User Stats

16
Posts
5
Votes
Patricia Cote
  • Investor
  • Pensacola, FL
5
Votes |
16
Posts
Patricia Cote
  • Investor
  • Pensacola, FL
Replied
Quote from @Minna Reid:

Remaining balance and payoff amount are not the same. Pull the payoff statement before you make any decisions.

Thank you! I was waiting on the payoff statement and when I received it, I was surprised at the high amount. Three years of non payment adds up. 
thanks again.

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