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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Bankruptcy filing to postpone trustee sale Posted by Melanie on December 15, 2009 at 10:26 AM I am a real estate broker, representing the buyer in a transaction to purchase a condo in Chino Hills (San Bernardino County, CA). The sale of the property will result in FULL PAYOFF to the bank. The property was in default, and during the escrow, the bank filed Notice of Trustee Sale. Seller didn't let anyone know until 3 days before the sale. Bank wouldn't work with us to postpone the sale, so Seller filed emergency Chapt. 13 Bankruptcy to force the sale to be postponed. No other papers are to be filed for the bankruptcy, and it should automatically dismiss after 14 days. Trustee has scheduled new sale date for the 17th, day after expiration of time to file additional documents. We are now ready to close, but title says with bankruptcy, they can't record. Need to know how to prove case dismissed if automatic dismissal occurs, is it really going to reflect dismissal as of 16th, or is there a time period for the judge to actually sign off on it? If Seller files a voluntary dismissal, anyone know what the timeframe is to get that order signed by a judge (case filed in Riverside, CA)? If trustee can sell the home on the 17th, we ought to be able to record, but I'm out of my area here. In the last few days, we've been able to get the payoff people talking to us. Initial payoff figure only gives until 16th, the date of dismissal of the bankruptcy. They say they will provide a new payoff for the 31st of December, and that trustee sale can't happen if there is a payoff in place until the 31st. Is this true? I am nervous about relying on this person's word when the sale is still showing scheduled for 17th. Mortgage company is Golden 1 Credit Union, serviced by Dovenmuehle Mortgage, with trustee MTC Financial Inc dba Trustee Corps. Hoping anyone here might have a legal background and be able to tell me the timeframes at the bankruptcy court, or if you're an investor with experience on bankruptcy filings to stall a sale, maybe you have experience in getting the sale closed (recorded) after the bk filing? All answers are much appreciated! Follow Ups: How long to get signed order for voluntary dismissal? Melanie 12:42 AM, 12/15/09 (2) It's fairly quick... Ward-CA- 5:47 PM, 12/16/09 (1) Thanks! Melanie 9:45 AM, 12/17/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I am a real estate broker, representing the buyer in a transaction to purchase a condo in Chino Hills (San Bernardino County, CA). The sale of the property will result in FULL PAYOFF to the bank. The property was in default, and during the escrow, the bank filed Notice of Trustee Sale. Seller didn't let anyone know until 3 days before the sale. Bank wouldn't work with us to postpone the sale, so Seller filed emergency Chapt. 13 Bankruptcy to force the sale to be postponed. No other papers are to be filed for the bankruptcy, and it should automatically dismiss after 14 days. Trustee has scheduled new sale date for the 17th, day after expiration of time to file additional documents. We are now ready to close, but title says with bankruptcy, they can't record. : Need to know how to prove case dismissed if automatic dismissal occurs, is it really going to reflect dismissal as of 16th, or is there a time period for the judge to actually sign off on it? If Seller files a voluntary dismissal, anyone know what the timeframe is to get that order signed by a judge (case filed in Riverside, CA)? If trustee can sell the home on the 17th, we ought to be able to record, but I'm out of my area here. : In the last few days, we've been able to get the payoff people talking to us. Initial payoff figure only gives until 16th, the date of dismissal of the bankruptcy. They say they will provide a new payoff for the 31st of December, and that trustee sale can't happen if there is a payoff in place until the 31st. Is this true? I am nervous about relying on this person's word when the sale is still showing scheduled for 17th. Mortgage company is Golden 1 Credit Union, serviced by Dovenmuehle Mortgage, with trustee MTC Financial Inc dba Trustee Corps. : Hoping anyone here might have a legal background and be able to tell me the timeframes at the bankruptcy court, or if you're an investor with experience on bankruptcy filings to stall a sale, maybe you have experience in getting the sale closed (recorded) after the bk filing? All answers are much appreciated! [ 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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