Foreclosure

[Georgia H.]

I just received an e-mail from a potential client stating their house is going up for foreclosure on July 14th.  Is there anything that I can do to assist this homeowner at this late date?  What can I do to help?  What questions should I need to find out from the homeowner?  Any help you can give me will be greatly appreciated.

[Mike Sedlacek]

Check your states foreclosure process google it. That may tell you the redemption rights by the home owner usually could be up to one year after the auction date. Have them hand you the deed, reinstate the loan and if they have a large equity position maybe make a deal to buy thier equity. There may be not enough time to stop the foreclosure, usually within 5 days of auction no stopping it. Or ask an attorney about bankruptcy for the home owner.  Get a hold of the Loss Migrator for the bank and see if you can make a deal to stop the auction.