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Can an owner get financial help while in redemption period?

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:07 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:07 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:0b43c7f468]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.[/quote:0b43c7f468]

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:07 | Post subject:

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