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Updated over 6 years ago on . Most recent reply

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Ashley Zhang
  • Investor
  • colorado
23
Votes |
195
Posts

need help on CO foreclosure list from County

Ashley Zhang
  • Investor
  • colorado
Posted

Hi all, I pulled a Pending Foreclosure list from my county's web, however I don't understand some terms and no one in County is willing to explain that to me. for example, there is a property, the original Election Recorded was 8/17/17, for the same property the Orig. Sale Date was 12/6/17 and Sale date will be 8/15/18. So does that mean it will be foreclosed on 8/15/18, potentially will be in auction? also, there is a extra column "bankruptcy" , some of the properties marked " BK Hold" whereas some didn't. for this particular one, it didn't marked " BK Hold". when I looked up this property online, most of the websites said its off market. So I am really confusing when I am looking at this list, how can I figure out which one shall I approach for potential deal? any help from you will be greatly appreciated! thank you! 

Most Popular Reply

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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
870
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1,932
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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
Replied
Originally posted by @Wayne Brooks:

Looks like the auction sale date is 08/15, delyed from a previous sale date. A BK hold means the owner filed BK, it takes 2-3 months for the bank to get it released from BK and rescheduled for auction. 

 That assumes its a Chapter 7 BK. If it's a 13, you're looking at 3-5 years but long before that, the foreclosure would be cancelled as the borrower's arrears would be paid in the plan.

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