Kokomo Foreclosures Sheriff Sale February 2009
By
Howard County Sheriff’s Sale
Last month started with sixty-five homes on the list for the January Sheriff sale, but by the time sale date rolled around, there were only twenty-three houses sold at the foreclosure sale. Part of the reason so many houses were “pulled” from the sale was that Fannie Mae, Freddie Mac and other lenders put a moratorium or halt to foreclosure actions over the holidays.
Fannie Mae continues their moratorium, so there are fewer homes than might be expected at the February 18, 2009 Howard County Sheriff’s sale. Keep in mind that being listed for the sheriff’s sale means all of these homes are facing the final stages of the foreclosure process.
As it gets closer to the sale date, be sure to check the list again because some houses will probably be taken ”off” the sale. There are several reasons why a house can may be taken off the sale:
- the owner may have brought the loan up-to-date or worked out a solution with the lender
- the owner may have filed bankruptcy
- the lender didn’t follow correct foreclosure procedures
And, don’t forget to read the Sheriff Sale Information page before you decide to bid on a house. There are no guarantees! There are no inspections! When you buy a house at a Sheriff’s Sale, you get what you get! Warts and all!
For more information about the foreclosure process and how you can get the “upper-hand” in buying a foreclosure property, you might want to read my posting from October 2007:
Get the “Upper-Hand” in Buying a Foreclosure Home In Kokomo
What can I do to help you get the “upper-hand” when buying a home in Kokomo and the surrounding areas? Just give me a call at 765-513-0354 or send me an email.
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