Re: Rescission of Sale - Refund plus interest

Trustee rescissions come up so infrequently I’d be somewhat surprised if the law allowed for interest. Usually laws of this nature are silent on the issue. Legislation usually just isn’t that forward thinking primarily because it’s written by people with limited or no hands-on experience. Where you see interest rate penalties are usually consumer protection laws or incentives to pay taxes and foreclosure sale bidders aren’t considered an oppressed party by consumer rights activists. Most people consider the absence of interest as a cost of doing business. As I recall in your previous postings the issue was proper notification, which means the lender/trustee is well within their rights to cancel the sale. Therefore, you’re negotiating with little if any leverage.