Anyone else run into B of A not extending Trustee Sale dates? I have a cash offer for the market price of the home. We've been working on approval for four weeks, ten days before trustee sale date, we received a 'counter offer' off equator and asked to close by 16th, in three days. No one could do it (title or buyer), we asked for the 22nd ... two days later (the 15th) they countered the same thing and stated, must close seven days prior to trustee sale date. News to me, asked for extension on trustee sale to the 30th, they denied the extension and close of escrow date of the 22nd. And we now have to cancel the contract.

I am not sure how many know that the closing must happen seven days prior to Trustee Sale date ... maybe I am letting many know for the first time, or many of you may already know. Wish I knew of this cool website that has come one of my informational tools for my short sales!

This is my THANK YOU too!!

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Replies to This Discussion

On the last one that I did with BofA they extended the Trustee sale 4 times but they would only do it 3 days before the sale. They also extended the closing. Wish I could help you.
I had a foreclosure sale date extended 4 times as well and as Valorie says they only do it 3 days before the sale.
You betcha - I just wrote on another reply that I lost a sweet deal for everyone, including investor, and was surprised when they would not postpone the sale. Both Fannie and Freddie have pulled postponements. I don't know how severe at the moment. The last time I talked with Fannie, they would now allow 1. I heard from someone who had been PROMISED by a Freddie person directly that she called to say couldn't do it any more - no postponements.

I am not sure how you can use this, but in talking to an MI person, she was telling me that you can, indeed, continue the short sale during the redemption period. That blew me away. So, if you have a decent one, maybe you can keep going with it?
I had the same situation happen to me last week. The negotiator said BofA will not extend/ postpone the sale date. It was scheduled to go to sale yesterday (Sept. 21). My seller went to the local court last Friday (Sept. 17) and filed an emergency "Motion" to extend the foreclosure sale. She went before the presiding judge and presented the contract and supporting documents justifying we were working through a short sale...The judge Canceled the sale of Sept. 21 and extended the foreclosure sale for Nov.8th. This was the 2nd extension to the foreclosure sale granted by a judge. You may still have time to save your file...Hope this helps!
Good point - I did that myself a few years ago - the seller had her lawyer do it. So, it is good to know that at least sometimes you can forego the expense of a lawyer. What I saw was a form that had 60, 90, 120 days on it so I'm thinking we could have easily asked for more...

Dee Garcia said:
I had the same situation happen to me last week. The negotiator said BofA will not extend/ postpone the sale date. It was scheduled to go to sale yesterday (Sept. 21). My seller went to the local court last Friday (Sept. 17) and filed an emergency "Motion" to extend the foreclosure sale. She went before the presiding judge and presented the contract and supporting documents justifying we were working through a short sale...The judge Canceled the sale of Sept. 21 and extended the foreclosure sale for Nov.8th. This was the 2nd extension to the foreclosure sale granted by a judge. You may still have time to save your file...Hope this helps!
Yes, this does help! But on this transaction, its way too late! Teh foreclosure is set for tomorrow and its already 4:30 pm!! I wish I put this question or experience through last week with all of you! You are wonderful!!
You still have the redemption period to mess with, if you have one. You can probably unwind a sheriff sale, too, if it just goes back to the bank. Only other last ditch effort would be to talk to the attorney doing it, but that is not likely to go far unless he is a relative of yours.. ;-)

Nancy Campbell said:
Yes, this does help! But on this transaction, its way too late! Teh foreclosure is set for tomorrow and its already 4:30 pm!! I wish I put this question or experience through last week with all of you! You are wonderful!!
Have heard from Wachovia and Wells Fargo that they will no longer postpone trustee sale dates.

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