Can an owner get financial help while in redemption period?

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Icon Mini Profile athomewithmom





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Post Posted: Tue May 08, 2007 6:44 pm    Post subject: Can an owner get financial help while in redemption period?
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I am a loss mitigation consultant and have run into one situation several times. Once a client is foreclosed on and is in their redemption period, can they get help buying back their house or should they just ive up.
johnette

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Post Posted: Tue May 08, 2007 6:58 pm    Post subject:
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The owner first has to file a notice of intent to redeem within fifteen days before the end of his redemption period. But it would be hard for a person to get financial help in buying back his house.
Icon Mini Profile jerry
jerry
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Post Posted: Tue May 08, 2007 11:44 pm    Post subject: RE: buy back home after foreclosure
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Hi Guest,

Welcome to the forums.

Your client can contact Naca - an organization which helps people in foreclosure. Recently they have started giving assistance to those in default. Your client can just enquire whether they are offering assistance to buy back homes during redemption period.

Thanks,
Jerry.
Dougherty

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Post Posted: Fri May 11, 2007 4:21 pm    Post subject:
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Quote:
I am a loss mitigation consultant and have run into one situation several times. Once a client is foreclosed on and is in their redemption period, can they get help buying back their house or should they just ive up.


I would say it would be difficult to find someone willing to provide him the required financing to buy their house back. The person has to find relatives or friends to get the required finance to buy it back.
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