Real estate question

[Van]

What is a "quick sale" inregards to a mortgage foreclosure?

 

[JimMcC]

One day.

 

[charper1]

It refers to a type of mortgage package that has a ten day or less turn around time; only specific lenders offer this package and usually at a increased fee rate and might even have unattractive interest; YMMV, especially by state.

 

[Van]

Landlords a victim of the realestate crash and most of her properties that had been up for sale are now going to quick sales with ours being the first. Good news is that she has a strong buyer who's been working with the mortgage company so things look very promising.