Door knock when time is running out?

Question

Found a home in my community that is going to auction in a week. I'm going to go to their home tomorrow to see if I can help them at all, or know someone who can. Recorder's site confirms process has been off and on for over a year. It appears as if they at least have 80% LTV when I see the terms and dates originated.

Any thoughts or strategies you would use? Im thinking (quick thoughts here), get the deed, subject to, reinstate, carpet/paint rehab (to dress it up), retail sale.

Karen Margrave · Answer

@Jared Emerick Welcome to BP! I can't help you, as I've never dealt with foreclosed properties. However; there's been many posts written on the subject, and I'm sure blog posts and podcasts. You might try doing a search and checking some of them out. If you find someone that knows the subject, feel free to @mention them, send a colleague request, etc.

Good luck.

Brett Goldsmith · Answer

Reinstating the loan may be an option. Maybe the borrower would be willing to file a bankruptcy to postpone the foreclosure sale date. Also, I'd be trying to get authorized with the mortgage servicer on behalf of the borrower to see if I could get a request for postponement placed.