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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Seeking a last minute reprieve Posted by Ward-CA- on April 24, 2002 at 6:47 AM In Reply to: delaying the sale posted by Greg - CA on April 23, 2002 at 10:58 PM : Ward, : Say I get the owner to accept my offer just a few days before the sale. Other than bankruptcy, can I delay the trustee sale just enough to close my deal somehow? Specifically will the lender agree to delay his TS date if he knows a sale is pending? If this is a possibility, how can I convice the lender to do it? =•=•=•=•=•=•=•=•=•=•= Greg, Well, I guess anything is possible during the last few days to try and delay the impending foreclosure sale—but as a pragmatist, I like the certainty of the bankruptcy route. Leaving it up to the lender’s agreement is dicey at best. Lenders are about as fickle as trying to get a dance with the queen of your homecoming game in high school. So it is very uncertain what a lender will agree to a few days before her impending trustee’s sale. It depends, I suppose, on her level of exasperation at the time with the number of promises broken by other owners in default at the moment, etc., etc. The “pending sale” excuse seems to work best if you can prove it with certified copies of the sale escrow that you’re claiming is just about to close AND if your selling owner-in-foreclosure has been cordial and cooperative with the lender up to that point in the foreclosure. I guess what I might do is ask for the extension favor first and if I'm turned down then use the bankruptcy power play. Follow Ups: hoodia Harry Juna 7:06 PM, 02/03/05 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Say I get the owner to accept my offer just a few days before the sale. Other than bankruptcy, can I delay the trustee sale just enough to close my deal somehow? Specifically will the lender agree to delay his TS date if he knows a sale is pending? If this is a possibility, how can I convice the lender to do it? : =•=•=•=•=•=•=•=•=•=•= : Greg, : Well, I guess anything is possible during the last few days to try and delay the impending foreclosure sale—but as a pragmatist, I like the certainty of the bankruptcy route. : Leaving it up to the lender’s agreement is dicey at best. Lenders are about as fickle as trying to get a dance with the queen of your homecoming game in high school. : So it is very uncertain what a lender will agree to a few days before her impending trustee’s sale. It depends, I suppose, on her level of exasperation at the time with the number of promises broken by other owners in default at the moment, etc., etc. : The “pending sale” excuse seems to work best if you can prove it with certified copies of the sale escrow that you’re claiming is just about to close AND if your selling owner-in-foreclosure has been cordial and cooperative with the lender up to that point in the foreclosure. : I guess what I might do is ask for the extension favor first and if I'm turned down then use the bankruptcy power play. 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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