what is strict foreclosure and how long i have to wait to purchase a home in the strict foreclosure process
September 3rd, 2009 by Jarad S.Question: what is strict foreclosure and how long i have to wait to purchase a home in the strict foreclosure process
Answer: -Strict Foreclosure is foreclosure without an auction. It’s basically where the lender obtains a court order to transfer title of the delinquent property back to them (the lender), without having to go through a foreclosure sale. Typically there is a redemption period that is set by the court so it really depends on what the court says as to when you can purchase a home in strict foreclosure.
