Have you heard the Texas Attorney General sent a demand letter to various mortgage companies demanding them to stop pending foreclosures, delay closing on foreclosures currently under contract, etc.? Until their procedures can be righted or investigated for possible violations like not reading the information that could have saved the property from foreclosure, this order will stand.
According to information we received, there were 30 companies that received these letters. Hopefully, you are not the victim of this tragedy but hopefully, you are not in the process of trying to buy a foreclosure either. If so, your transaction may be on hold for a while. No one knows how long this will take. Seller owned homes are looking better for buyers now.
Most of our clients in the process of buying homes have turned their attention away from foreclosures for now since time is important. Hope this all gets resolved quickly. It is not a good thing to have foreclosed properties sitting vacant for long periods of time. This order affects residential and commercial property.
Ricki Eichler Real Estate, your Texas Hill Country connection www.reretx.com
511 Junction Hwy Kerrville, TX (830)257-2520
Comments(8)