I did a short sale w/ the bank, grace period still the same?

[jkypes]

What is the name of your state? Michigan

Hi guys,

I purchased a home from a bank recently, and had a question.

Even though I bought the papers, the homeowner still holds the deed. After the home went into forclosure, I negotiated a short sale with the bank, and purchased the papers. The homeowner was given until Feb 2 (6 months from going into forclosure) to pay back the full auction price, or move out.

now that I hold the loan, does the same date for eviction still stand, or do I have to file something to be sure that as of Feb 2, I can take the property?

Im not trying to cheat the homeowner in any way, I just want to make sure my bases are covered.

some variables:

What happens if they sign the deed over to me before feb 2?

I may be interested in renting to her after feb 2, is there going to be any issues with that?


Thanks!

 

[seniorjudge]

File your own eviction lawsuit.

 

[jkypes]

so you are saying the banks forclosure date is no longer valid now that I hold the loan?

 

[seniorjudge]

so you are saying the banks forclosure date is no longer valid now that I hold the loan?

No, I didn't say anything remotely resembling that.

 

[lcannister]

so you are saying the banks forclosure date is no longer valid now that I hold the loan?

I think if you bought the "papers" you probably bought the TERMS as well. Others will also reply.

 

[jkypes]

I think if you bought the "papers" you probably bought the TERMS as well. Others will also reply.

Thats what I was hoping!