Can I approach an owner of a house with a sub2 offer, if the house has been advertised in the newspaper for an auction ..but the auction has not taken place
Once final judgment is entered, the mortgagee is under no obligation to reinstate the mortgage. At the very least, to have the Sheriff's Sale adjourned, you would need enough cash to bring the loan current, and pay all related foreclosure costs including sheriff's sale fees, and lender's attorney's fees.
If a property has gone all the way to Sheriff's Sale (in NJ, it takes about a year), there is probably a good reason why a deal hadn't been devised.
As far as I know you can. Research the laws of your state. Usually if its posted in the paper it is still in "preforeclosure" status and if you can work a deal and pay all of the back costs, I say go for it.
FYI, make sure the house has enough equity in it so that it is worth the effort.
Have you contacted the person who's being foreclosed on? Often times, as long as you can beat the sheriff/auctioneer, you can work a deal.
Once final judgment is entered, the mortgagee is under no obligation to reinstate the mortgage. At the very least, to have the Sheriff's Sale adjourned, you would need enough cash to bring the loan current, and pay all related foreclosure costs including sheriff's sale fees, and lender's attorney's fees.
If a property has gone all the way to Sheriff's Sale (in NJ, it takes about a year), there is probably a good reason why a deal hadn't been devised.
As far as I know you can. Research the laws of your state. Usually if its posted in the paper it is still in "preforeclosure" status and if you can work a deal and pay all of the back costs, I say go for it.
FYI, make sure the house has enough equity in it so that it is worth the effort.