I’ve received a Notice of Trustee Sale from my lender. Isn’t it too late to negotiate a short sale?
This is a myth that probably hurts homeowners the most. Many don’t realize that foreclosure is a process and there is time. The foreclosing party (in most cases a lender) can stall a foreclosure up to the final day of the process. These days, many lenders will stall a foreclosure with as little as a phone call from you, letting them know that you are trying to sell. Almost all lenders will stall a foreclosure with a legitimate contract. In our view, there is time until the foreclosure process is complete.