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Re: Rescinding a Trustee Sale

Posted by bukzin on August 05, 2011 at 6:10 AM

In Reply to: Rescinding a Trustee Sale posted by ruben on August 05, 2011 at 0:10 AM

: Does anyone have information about " How many days the bank has
: to rescind a trustee sale?" Maybe a law or code or something?

: I currently purchased a property in Riverside county, I recorded
: the Trustees DEED and one week after the recording i get a call
: from RECON Trust that the Bank Made a Mistake by Auctioning off
: the Property and they declared it an invalid sale because the
: borower reinstated the Loan. Which makes no sense i paid 112k
: for the property and the loan was 415k. Whay would anyone in
: their right mind reinstate a loan which is 3 times bigger than
: the value of the home. Its Madness.

The trustor/owner only needs to bring current the loan.

By paying the missed mortgage payments and late fees he
has reinstated.

Having the bank/bene reverse the sale is not uncommon, it happens.
If you have an attorney relative who has a few years to invest in
a case it MAY work out for you.

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