Legal Question in Real Estate Law in Arizona

Real Estate forclosure
I have a first and second mortg. going into foreclosure.
I started working with a short sale company.
the first approved everything and moving forward
the second gave trouble, and said under no circumstances would he sign off on a short sale. he is a private.
He called me directly and told me he wanted to purchase the house, as a short sale, and would then sell it, thus making his money back ($10k)
He told me he had someone to do a short sale, and I could not work with the original short sale company. This was the only shot at not foreclosing.
I closed everything down, after getting a realtor and working with the first short sale company.
The second company came in, and helped, but then the second lien holder started to hesitate and ended up not making an offer, at the very end of the process. It looks like we will end up going into foreclosure, where if it was not for this, we would have been able to do a short sale and been fine. I had even talked to him about doing another note to pay back his remaining balance.
So, this person basically messed my family and I up, ruined our credit, where we would have made it out okay, because in my opinion, he was being spitefull.
Any case?

Asked on 8/21/07, 6:19 pm

James Jenkins Jenkins Law Center PLC

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Re: Real Estate forclosure

Bankruptcy to stall the sale or start making the payments through the bankruptcy without having to make up all the back payments?

Answered on 8/22/07, 2:09 am

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