stayed (foreclosure, short sale, rent, bankruptcy)
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A "stay" simply means a time-out for the scheduled events, think "stay" of execution. Something has come up that needs to be handled that may or may not change the eventual outcome.
For instance, I have a client nearing the end of short sale status and facing foreclosure. The lender told me the process should be complete by the end of August. However, if an offer comes in, the foreclosure will be placed on hold until the offer is reviewed. A "stay". If the offer is accepted, all is well. If the offer is declined, the process continues.
A "stay" simply means a time-out for the scheduled events, think "stay" of execution. Something has come up that needs to be handled that may or may not change the eventual outcome.
For instance, I have a client nearing the end of short sale status and facing foreclosure. The lender told me the process should be complete by the end of August. However, if an offer comes in, the foreclosure will be placed on hold until the offer is reviewed. A "stay". If the offer is accepted, all is well. If the offer is declined, the process continues.
could it mean someone put up some cash to hold off the sale? And thank you
A stay is an order of a court enjoining the sale. Most frequently, it is an order for relief upon the filing of a bankruptcy petition provided under 11 U.S.C. § 362(a).
I was told by a friend that i can have his house for rent. I did some research on it and under the information i saw, it said from december 2009 that his status was stayed. Should i be concerned to move in if he's still living in the house will it be ok for me to move in?
a meaning of stayed in a real estate status from december 2009
I was giving the option to have my friends house for rent , and we are going to sign a lease and get it notorized. I did some reasearch on it and found that from december of 2009 his status on the records was stayed from 5 grand. I am to be moving in tomorrow, should i be concerned or will it be ok for me to move in for a while since he's still there?
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a meaning of stayed in a real estate status from december 2009
