Replies to This Discussion

Permalink Reply by Steve Early on January 20, 2011 at 9:52am

Hi Ruben:

It may be a Chase policy or the policy of the investor being repeated by Chase. It is true that the investors are clamping down on extending foreclosure dates, but it doesn't seem to be consistent. We have lost several short sale workouts (with offers on the table) because the servicer informed us the short sale had to close prior to the foreclosure date or it goes to auction.

When this has happened we have not usually been successful in getting them to change their minds, unfortunately.

Permalink Reply by Bettie Meadows on January 20, 2011 at 11:13am

It all depends, sometimes yes and sometimes no. You have to really fight or get the homeowner to go down to the courts and stop it if it is a judicail state. File a motion of Stay .

Permalink Reply by Luis Cardozo on January 20, 2011 at 2:33pm

Ruben,

If the investor is participating in the HAFA program, they will postpone the foreclosure date. So you may want to ask if the offer the HAFA program.

Good Luck