Legal Question in Real Estate Law in Utah
short sale
If a house is in the process of approval of a short sale, does the lender/trustee normally file a Notice of Default against the borrowers?
Asked on 7/12/09, 8:57 am
1 Answer from Attorneys
Randy B. Birch
Attorney at Law
Re: short sale
Usually the "Notice of Default" is what spurs the discussion leading to a "short sale". A notice of default is the 1st step in the foreclosure process that will take at least 4 months. A "short sale" puts an end to the foreclosure process.
Answered on 7/15/09, 1:17 pm
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