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Boston area auction by Calif. firm (REDC) hits snag again -

 
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PostPosted: Wed May 14, 2008 12:57 pm GMT    Post subject: Boston area auction by Calif. firm (REDC) hits snag again - Reply with quote
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Description: Boston area auction by Calif. firm (REDC) hits snag again - Bidder says foreclosure was incomplete for home on the block
URL: http://www.boston.com/business/articles/2008/05/14/auction_by_calif_firm_hits_sn ...truncated...
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PostPosted: Wed May 14, 2008 4:18 pm GMT    Post subject: Reply with quote
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Another winning bidder on a foreclosed Massachusetts home auctioned by Real Estate Disposition Corp. has found she can't close on the home because the foreclosure process is not yet complete.

auction was in March The company told them to prepare for a closing by May 8, so the couple gave notice to their landlord and qualified for a mortgage loan.

Then the closing was postponed indefinitely. The mortgage company told the couple it couldn't make the loan because the seller did not yet own the home.


Not for nothing , but the couple never should have gave their landlord
notice they were moving.
Auction , foreclosure closings rarely go smoothly or timely .

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