Trustee Sale Postponement

I have a file where BofA is the 1st and IndyMac/OWB is the 2nd.  B of A is NOT being shorted, they are being paid in full, but they have a sale date for July 2.  I am supposed to get approval from OWB in the next day or 2 but I need help in getting the sale postponed.  I have called BofA loss mitigation who said they couldnt help and transferred me to the short sale dept who also cant help (they closed the SS file because they arent being shorted), who then transferred me to the foreclosure dept who said that they cant postpone it has to come from the SS dept, who already told me that they cant post pone since they dont have an open file.  I have fully qualified buyers and expect full approval since OWB is getting over $130K, but there is no way that they buyers can effect an FHA loan/closing in 2 1/2 weeks...Does anyone have a contact or some input for my situation???

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Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on June 13, 2012 at 7:18am

Tweet a message to @BofA_Help - they will get back to you within a couple of hours and will likely get the TS postponed for you.  Good Luck,

 

Permalink Reply by Michelle L Houze PLLC on June 13, 2012 at 7:20am

I just did that!  Thank you!

Permalink Reply by Michelle L Houze PLLC on June 15, 2012 at 6:06am

Thom...wanted to tell you that they did get back and are working on getting the TS postponed, even though BONYM is the investor and has a normal policy of not even looking at a postponement until 5 days prior to the sale.  EVERYONE should use this tool!  BAC has done  us all a great service by giving us this group of people to help us! 

Permalink Reply by Valerie Pressley on June 13, 2012 at 7:57am

Hi Michelle,

Don't know what state you live in, but in New Jersey, the seller has the right to two two-week adjournments of the sheriff sale date.  We use these in emergencies such as yours.  Check with your county courthouse to see if your sellers can get an extension.

Thanks,

 

Val

Permalink Reply by Michelle L Houze PLLC on June 13, 2012 at 8:00am

Thanks Val, but I am in AZ and the only way to put off a trustee sale is pretty much thru the lender or by filing BK, which the sellers arent ready to do!

Permalink Reply by Dean E Eshelman, CPA, CDPE, IRES on June 13, 2012 at 12:13pm

You don't say who the investor is, but I would call the investor directly. Once you have them on board verity the stoppage with the foreclosure attorneys.

Permalink Reply by Michelle L Houze PLLC on June 13, 2012 at 12:15pm

Dean...the investor is Bank of NY Mellon.  Can I call the investor directly?  And what department would I call?  I am up for calling anyone I need to for this extension....any direction you can give me would be really appreciated!!  Thank you for the heads up

Permalink Reply by Dean E Eshelman, CPA, CDPE, IRES on June 13, 2012 at 1:02pm

I do when I need to, of course you will have to get a third party authorization to them. I know Bank of NY Mellon acquired or took over servicing of some of the Country Wide and Litton Loans. Thought I had a phone number, but can't put my hands on it. Call the Corp HQ

Corporate Headquarters

BNY Mellon

  • One Wall Street
    New York, NY  10286

    Phone:  +1 212 495 1784
Permalink Reply by Thom Colby CA Brkr 888-391-5245 on June 13, 2012 at 4:07pm

I've been theere and done that - BNY Mellon will not speak with you, authorization or not.  The own the loan but do not service it.

You need to escalate as much as you can within BofA.

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