Have An HAFA Approved Short Sale - Expires 9/9/15 - ASC Has Scheduled Foreclosure For 8/4/15

I have a short sale listing - we received an NOSS that expires on 9/9/15 - last week received notice from Wells Fargo that they had redone the valuation and had reduced the MNSP that they needed to get from an offer by 9/9/15.  Today we got an offer ratified that will get Wells Fargo more than the MNSP that they need and I will be submitting it tomorrow.  However, today, my seller got certified mail from the trustee stating that the foreclosure sale was now scheduled for 8/4/15.  We think that it is ASC that has forwarded the file onto the trustee to begin foreclosure.  How do we stop this?  I know that I will be sending the offer to both ASC as well as Wells Fargo, but should I also send to anyone higher up than this?  My sellers are panicking right now.  Any guidance would be appreciated.  Thanks.

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Submitting by equator or fax?

I would submit to the respective lenders. They should stop the foreclosure without escalating. If you don't have confirmation of stopping the foreclosure in a few days, I would escalate at that point.

I have been told that I have to fax everything to them to the tel:866-969-0103.  I am submitting to both America's Servicing as well as Wells Fargo, but I guess I am confused as to why, when we have a HAFA approval of the short sale, and a valuation that was set by the lender, why a foreclosure sale date was even set, when the NOSS expires on 9/9/15.  

They are in violation of both the guidelines of HAFA and CFPB.  They should not have set a sale date.  Your sellers are protected from foreclosure through 9/9/15.  They should automatically postpone the sale date as soon as you bring it up, but you can throw in there that you will file a CFPB complaint for violations of federal regulations and HAFA guidelines. 

Email me, [email protected], and I will tell you who to speak with.

Generally speaking, the right hand has NO CLUE what the left hand is doing at the banks and your situation is VERY common, but easily fixed if you know who to speak with!!!

In all short sales, the foreclosure process will typically continue regardless of your short sale status, and if/when a foreclosure sale date does come up, you should be able to get it stopped or at least delayed while your short sale is reviewed.

It is one of several questions you should ALWAYS ask your lender when doing weekly short sale follow ups (also be CERTAIN to ask about "service release" and "charge-off" dates as these too can have a dramatic impact on your short sale progress!!

All my best to everyone!!!

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