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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Postponement rules for a CA trustee's sale Posted by Ward-CA- on February 02, 2002 at 7:38 AM In Reply to: trustees sale postponements in CA. posted by rodge on February 02, 2002 at 0:11 AM : my relatives home was sold at a trustees sale. the sale was postponed 4 times without my relatives knowledge. He did not file for BK and no legal action was involved in any of the postponements. I have read that CA. civil code 2924f states that a beneficiary can postpone up to 3 times and that after that the beneficiary has to re-post on the property and give the normal 20 days before the trustees sale. Those 20 extra days would have made all the difference in the world and surely would have saved his home. Is there any recourse? It seems to me that title was obtained illegally. =•=•=•=•=•=•=•=•=•=•= Rodge, in California we have a two part foreclosure process. The first part is initiated when the trustee records the Notice of Default. The default period must be, at minimum, 3 months long. Then the trustee can initiate the second and final phase of our foreclosure procedure by recording the Notice of Trustee’s Sale. The sale period must be, at minimum, 21 days long before the trustee’s sale can take place. Trustee’s sales are very commonly postponed to accommodate the trustee or because the trustor has requested it or because the trustor is forcing the trustee to do so by operation of law (by obtaining a temporary restraining order or filing a petition in bankruptcy). You are right, in that the trustee can only postpone the trustee’s sale on their own account for 3 times, and then thereafter if they want to initiate any more, they must renew all the steps of the sale phase by recording a new Notice of Trustee’s Sale and waiting at least 21 days thereafter before the trustee’s sale is held. If you think the trustee violated the Civil Code Section 2924 then the aggrieved party, your relatives, must very quickly petition the trustee for the cancellation and resetting of the sale. Otherwise the trustee will be very reluctant to cancel the sale based on mistake because they will have already distributed all the sale proceeds and will find it almost impossible to force the various recipients to return the money they have received. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : my relatives home was sold at a trustees sale. the sale was postponed 4 times without my relatives knowledge. He did not file for BK and no legal action was involved in any of the postponements. I have read that CA. civil code 2924f states that a beneficiary can postpone up to 3 times and that after that the beneficiary has to re-post on the property and give the normal 20 days before the trustees sale. Those 20 extra days would have made all the difference in the world and surely would have saved his home. Is there any recourse? It seems to me that title was obtained illegally. : =•=•=•=•=•=•=•=•=•=•= : Rodge, in California we have a two part foreclosure process. The first part is initiated when the trustee records the Notice of Default. The default period must be, at minimum, 3 months long. Then the trustee can initiate the second and final phase of our foreclosure procedure by recording the Notice of Trustee’s Sale. The sale period must be, at minimum, 21 days long before the trustee’s sale can take place. : Trustee’s sales are very commonly postponed to accommodate the trustee or because the trustor has requested it or because the trustor is forcing the trustee to do so by operation of law (by obtaining a temporary restraining order or filing a petition in bankruptcy). You are right, in that the trustee can only postpone the trustee’s sale on their own account for 3 times, and then thereafter if they want to initiate any more, they must renew all the steps of the sale phase by recording a new Notice of Trustee’s Sale and waiting at least 21 days thereafter before the trustee’s sale is held. : If you think the trustee violated the Civil Code Section 2924 then the aggrieved party, your relatives, must very quickly petition the trustee for the cancellation and resetting of the sale. Otherwise the trustee will be very reluctant to cancel the sale based on mistake because they will have already distributed all the sale proceeds and will find it almost impossible to force the various recipients to return the money they have received. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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