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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] How Late is "Too Late?" Posted by Sean Wagle on March 27, 2002 at 8:44 PM Ward, reading some of your posts on the other forum about cancelling a foreclosure quickly, got me curious as to the minimum time possible to do this. Suppose an investor met a defaulting owner on the morning of the auction, got a signed QuitClaim deed at a notary right in front of the court house, and walked it in there immediately before the auction. I'm assuming the foreclosure would continue at this point? Or would the auctioneer have leeway to delay the auction another day or two, to give you time to contact the lender for the payoff amount? If agreement of the lender is absolutely needed, what would the minimum response be from them to delay the auction? A FAX stating this? Verbal agreement with an officer of the bank? (I can just picture the auctioneer talking on his cell phone: "What? Huh? Hold it? OK.") There have got to be some foreclosure stories out there of people who just squeaked a deal-- right at the last second! Follow Ups: Squeaker stories usually involve filing bankruptcy.. Ward-CA- 7:20 AM, 03/28/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, reading some of your posts on the other forum about cancelling a foreclosure quickly, got me curious as to the minimum time possible to do this. : Suppose an investor met a defaulting owner on the morning of the auction, got a signed QuitClaim deed at a notary right in front of the court house, and walked it in there immediately before the auction. : I'm assuming the foreclosure would continue at this point? Or would the auctioneer have leeway to delay the auction another day or two, to give you time to contact the lender for the payoff amount? : If agreement of the lender is absolutely needed, what would the minimum response be from them to delay the auction? A FAX stating this? Verbal agreement with an officer of the bank? (I can just picture the auctioneer talking on his cell phone: "What? Huh? Hold it? OK.") : There have got to be some foreclosure stories out there of people who just squeaked a deal-- right at the last second! 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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