[hsmomx3]

I believe they wanted to buy it before it got to auction. I would pay rent to them, though.

I am not even sure if that is possible—short sale prior to auction.

[fatima]

My daughter looked at a short sale on Friday with her husband.First the sale was under the purchase price.Home sold for 225,000.00 in 01 and the short sale was 217,000.00.The Realtor told us it would be up to the Bank to accept any offer and it would take 60 days for them to decide.As far as foreclosure,I have talked with many who have gone through this right now.There are people buying your house and then renting it back to you.Also the date of foreclosure is not set in stone as they have so many and are backed up.Also if you do a short sale you must pay the bank the balance of the loan due on your house.Say you sell and it does not cover 30,000.00 you owed on the house you will have to pay them back even if it is sold.They will work out a payment plan with you.

[SeeSac]

I am not even sure if that is possible—short sale prior to auction.

A short sale can be done prior to the auction IF the bank will accept the loss.